Safe and Sound

BEVERLY BUS GARAGE

Evergreen Park, IL
5
Star Rating
BEVERLY BUS GARAGE is an NCUA-insured credit union started in 1938 and currently based in Evergreen Park, IL. Regulatory filings show the credit union having assets of $4.0 million, as of December 31, 2017.

BEVERLY BUS GARAGE's 1,300 members currently have $2.3 million in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $3.5 million.

Overall, Bankrate believes that, as of December 31, 2017, BEVERLY BUS GARAGE exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions on safety and soundness.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of a credit union's financial strength. It works as a cushion against losses and provides protection for members when a credit union is experiencing financial trouble. From a safety and soundness perspective, more capital is preferred.

BEVERLY BUS GARAGE scored above the national average of 15.65 points on our test to measure capital adequacy, scoring 30 out of a possible 30 points.

BEVERLY BUS GARAGE had a capitalization ratio of 30.00 percent in our test, higher than the average for all credit unions, a sign that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

Bankrate uses this test to estimate the effect of troubled assets, such as unpaid loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having extensive holdings of these types of assets means a credit union may have to use capital to cover losses, diminishing its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, decreasing earnings and increasing the chances of a failure in the future.

BEVERLY BUS GARAGE finished below the national average of 38.09 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

A lower-than-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. A credit union can retain its earnings, giving a boost to its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. Losses, on the other hand, lessen a credit union's ability to do those things.

On Bankrate's test of earnings, BEVERLY BUS GARAGE scored 4 out of a possible 30, lower than the national average of 10.11.

BEVERLY BUS GARAGE had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's outperforming its peers in this area.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.