Safe and Sound

CCAC

Pittsburgh, PA
3
Star Rating
CCAC is a Pittsburgh, PA-based, NCUA-insured credit union started in 1972. As of December 31, 2017, the credit union held assets of $4.6 million.

The credit union currently holds loans and leases worth $2.3 million. Its 793 members currently have $4.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CCAC exhibited a generally satisfactory condition, earning 3 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 evaluate U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial fortitude, capital is important. It works as a cushion against losses and as protection for members when a credit union is experiencing financial instability. From a safety and soundness perspective, more capital is better.

CCAC received a score of 14 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, failing to reach the national average of 15.65.

CCAC's capitalization ratio of 14.00 percent in our test was less than the average for all credit unions, an indication that it's less well prepared for financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of troubled assets, such as past-due loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having large numbers of these types of assets suggests a credit union may have to use capital to absorb losses, shrinking its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, resulting in diminished earnings and potentially more risk of a future failure.

CCAC came in below the national average of 38.09 on Bankrate's asset quality test, racking up 36 out of a possible 40 points .

CCAC's ratio of problem assets was 0.00 percent in our test, beneath 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. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, likely making the credit union better able to withstand financial shocks. Losses, on the other hand, diminish a credit union's ability to do those things.

CCAC received below-average marks on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

One indication 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.