Safe and Sound

CATTARAUGUS COUNTY EMPLOYEES

LITTLE VALLEY, NY
4
Star Rating
CATTARAUGUS COUNTY EMPLOYEES is a LITTLE VALLEY, NY-based, NCUA-insured credit union started in 1968. Regulatory filings show the credit union having $10.5 million in assets, as of December 31, 2017.

With 4 full-time employees, the credit union has amassed loans and leases worth $6.5 million. Its 1,646 members currently have $9.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CATTARAUGUS COUNTY EMPLOYEES exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial strength. It works as a buffer against losses and provides protection for members when a credit union is experiencing economic trouble. When it comes to safety and soundness, the more capital, the better.

On our test to measure the adequacy of a credit union's capital, CATTARAUGUS COUNTY EMPLOYEES received a score of 12 out of a possible 30 points, failing to reach the national average of 15.65.

CATTARAUGUS COUNTY EMPLOYEES appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 12.00 percent in our test, lower than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as past-due mortgages, on the credit union's capitalization and allocated loan loss reserves.

A credit union with extensive holdings of these kinds of assets may eventually be forced to use capital to cover losses, diminishing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, pushing down earnings and elevating the chances of a future failure.

CATTARAUGUS COUNTY EMPLOYEES beat out the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

A below-average ratio of troubled 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 affects its safety and soundness. Earnings can be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, reduce a credit union's ability to do those things.

CATTARAUGUS COUNTY EMPLOYEES scored 6 out of a possible 30 on Bankrate's test of earnings, below the national average of 10.11.

One sign that the credit union is outperforming 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.