Safe and Sound

CAMDEN FIREMEN'S

Moorestown, NJ
4
Star Rating
Moorestown, NJ-based CAMDEN FIREMEN'S is an NCUA-insured credit union started in 1945. The credit union holds $340,923 in assets, according to December 31, 2017, regulatory filings.

The credit union currently holds loans and leases worth $259,845. Its 141 members currently have $296,814 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CAMDEN FIREMEN'S 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 grade American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of an institution's financial resilience. It acts as a cushion against losses and affords protection for members when a credit union is experiencing economic instability. From a safety and soundness perspective, the higher the capital, the better.

CAMDEN FIREMEN'S racked up 16 out of a possible 30 points on our test to measure capital adequacy, better than the national average of 15.65.

CAMDEN FIREMEN'S's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

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

Having a large number of these kinds of assets may eventually require a credit union to use capital to absorb losses, cutting down on 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 diminished earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, CAMDEN FIREMEN'S scored 40 out of a possible 40 points, beating 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 greater financial strength than other credit unions.

Earnings score

A credit union's profitability affects its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or use them to deal with problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

On Bankrate's earnings test, CAMDEN FIREMEN'S scored 0 out of a possible 30, below the national average of 10.11.

One sign that CAMDEN FIREMEN'S is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, better than 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.