Safe and Sound

BRIDGEPORT POLICE

BRIDGEPORT, CT
5
Star Rating
Founded in 1954, BRIDGEPORT POLICE is an NCUA-insured credit union headquartered in BRIDGEPORT, CT. The credit union has $18.3 million in assets, according to December 31, 2017, regulatory filings.

Thanks to the work of 6 full-time employees, the credit union holds loans and leases worth $7.6 million. Its 2,023 members currently have $15.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, BRIDGEPORT POLICE exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a look at how the credit union faired on the three key criteria Bankrate used to score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial fortitude. It acts as a buffer against losses and affords protection for members during times of economic trouble for the credit union. When it comes to safety and soundness, more capital is preferred.

On our test to measure capital adequacy, BRIDGEPORT POLICE scored 18 out of a possible 30 points, beating out the national average of 15.65.

BRIDGEPORT POLICE's capitalization ratio of 18.00 percent in our test was higher than the average for all credit unions, suggesting that it's on more solid financial footing than its peers.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as unpaid loans, on the credit union's loan loss reserves and overall capitalization.

A credit union with extensive holdings of these types of assets may eventually have to use capital to cover losses, reducing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in lower earnings and potentially more risk of a failure in the future.

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

A below-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 earnings performance has an effect on its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand financial shocks. Losses, on the other hand, diminish a credit union's ability to do those things.

BRIDGEPORT POLICE exceeded the national average on Bankrate's test of earnings, achieving a score of 12 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, above 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.