Safe and Sound

BRIDGEPORT CITY EMPLOYEES

BRIDGEPORT, CT
5
Star Rating
BRIDGEPORT CITY EMPLOYEES is an NCUA-insured credit union founded in 1959 and currently based in BRIDGEPORT, CT. As of December 31, 2017, the credit union had assets of $29.2 million.

Members have $11.1 million on deposit tended by 8 full-time employees. With that footprint, the credit union holds loans and leases worth $11.1 million. Its 4,374 members currently have $21.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, BRIDGEPORT CITY EMPLOYEES exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three major criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial fortitude, capital is important. It acts as a bulwark against losses and as protection for members when a credit union is experiencing financial instability. From a safety and soundness perspective, the higher the capital, the better.

On our test to measure the adequacy of a credit union's capital, BRIDGEPORT CITY EMPLOYEES scored 30 out of a possible 30 points, exceeding the national average of 15.65.

BRIDGEPORT CITY EMPLOYEES's capitalization ratio of 30.00 percent in our test was higher than the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

This test is intended to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as past-due loans.

Having a large number of these types of assets suggests a credit union could eventually have to use capital to cover losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in lower earnings and potentially more risk of a failure in the future.

On Bankrate's asset quality test, BRIDGEPORT CITY EMPLOYEES scored 40 out of a possible 40 points, beating the national average of 38.09 points.

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

Earnings score

A credit union's profitability has an effect on its safety and soundness. Earnings may be retained by the credit union, boosting its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in tough times. Losses, on the other hand, take away from a credit union's ability to do those things.

On Bankrate's test of earnings, BRIDGEPORT CITY EMPLOYEES scored 2 out of a possible 30, lower than the national average of 10.11.

One indication that BRIDGEPORT CITY EMPLOYEES is beating its peers in this area was its earnings ratio of 0.00 percent in our test, above the average for all credit unions.

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.