Safe and Sound

CCC VAN WERT

VAN WERT, OH
4
Star Rating
VAN WERT, OH-based CCC VAN WERT is an NCUA-insured credit union started in 1958. As of December 31, 2017, the credit union had assets of $584,719.

Members have $348,663 on deposit tended by 2 full-time employees. With that footprint, the credit union has amassed loans and leases worth $348,663. CCC VAN WERT's 130 members currently have $346,389 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CCC VAN WERT exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three key 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 a credit union's financial fortitude. It acts as a bulwark against losses and as protection for members when a credit union is experiencing financial instability. From a safety and soundness perspective, the higher the capital, the better.

On our test to measure capital adequacy, CCC VAN WERT achieved a score of 30 out of a possible 30 points, exceeding the national average of 15.65.

CCC VAN WERT's capitalization ratio of 30.00 percent in our test was above the average for all credit unions, suggesting that it's more well prepared for financial trouble than its peers.

Asset Quality Score

This test is intended to estimate how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as unpaid mortgages.

A credit union with lots of these types of assets could eventually have to use capital to cover losses, cutting down on its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in depressed earnings and potentially more risk of a future failure.

CCC VAN WERT scored below the national average of 38.09 on Bankrate's test of asset quality, racking up 32 out of a possible 40 points .

A lower-than-average ratio of problem assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its long-term survivability. A credit union can retain its earnings, increasing its capital cushion, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. Conversely, losses diminish a credit union's ability to do those things.

On Bankrate's earnings test, CCC VAN WERT scored 0 out of a possible 30, less than the national average of 10.11.

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