Safe and Sound

BUCKEYE STATE

Akron, OH
4
Star Rating
Akron, OH-based BUCKEYE STATE is an NCUA-insured credit union founded in 0. The credit union has $75.1 million in assets, according to December 31, 2017, regulatory filings.

Thanks to the work of 27 full-time employees, the credit union holds loans and leases worth $62.4 million. Its 15,541 members currently have $68.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, BUCKEYE STATE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three key criteria Bankrate used to score American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial strength, capital is crucial. It works as a bulwark against losses and as protection for members when a credit union is struggling financially. When looking at safety and soundness, the higher the capital, the better.

BUCKEYE STATE received a score of 8 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, less than the national average of 15.65.

BUCKEYE STATE's capitalization ratio of 8.00 percent in our test was less than the average for all credit unions, an indication that it could be less resilient in a crisis than its peers.

Asset Quality Score

This test's purpose is to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as unpaid loans.

A credit union with large numbers of these types of assets could 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 no longer earning money, resulting in diminished earnings and potentially more risk of a future failure.

BUCKEYE STATE scored 36 out of a possible 40 points on Bankrate's test of asset quality, coming in below the national average of 38.09.

The credit union's ratio of troubled assets was 0.00 percent in our test, less than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. However, credit unions that are losing money are less able to do those things.

BUCKEYE STATE did above-average on Bankrate's earnings test, achieving a score of 22 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, a sign that it's doing better than 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.