Safe and Sound

BRIDGEPORT POST OFFICE

Bridgeport, CT
4
Star Rating
BRIDGEPORT POST OFFICE is an NCUA-insured credit union founded in 1940 and currently based in Bridgeport, CT. As of December 31, 2017, the credit union had assets of $4.1 million.

BRIDGEPORT POST OFFICE's 696 members currently have $2.9 million in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $1.2 million.

Overall, Bankrate believes that, as of December 31, 2017, BRIDGEPORT POST OFFICE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three major criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and affords protection for members when a credit union is struggling financially. It follows then that a credit union's level of capital is a valuable measurement of its financial resilience. When it comes to safety and soundness, the more capital, the better.

On our test to measure capital adequacy, BRIDGEPORT POST OFFICE achieved a score of 30 out of a possible 30 points, beating the national average of 15.65.

BRIDGEPORT POST OFFICE's capitalization ratio of 30.00 percent in our test was above the average for all credit unions, an indication that it's stronger than its peers.

Asset Quality Score

Bankrate uses this test to determine the effect of troubled assets, such as past-due mortgages, on the credit union's loan loss reserves and overall capitalization.

A credit union with large numbers of these types of assets may eventually be required to use capital to cover losses, shrinking its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, resulting in diminished earnings and potentially more risk of a failure in the future.

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

Troubled assets made up 0.00 percent of BRIDGEPORT POST OFFICE's total assets in our test, below the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

A credit union's profitability affects its long-term survivability. Earnings can be retained by the credit union, increasing its capital buffer, or be used to deal with problematic loans, likely making the credit union better prepared to withstand economic trouble. Conversely, losses reduce a credit union's ability to do those things.

BRIDGEPORT POST OFFICE fell behind the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

BRIDGEPORT POST OFFICE had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's running ahead of 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.