Safe and Sound

CENTRIS

OMAHA, NE
4
Star Rating
CENTRIS is an NCUA-insured credit union founded in 1934 and currently based in OMAHA, NE. The credit union holds assets of $679.5 million, according to December 31, 2017, regulatory filings.

Members have $602.5 million on deposit tended by 253 full-time employees. With that footprint, the credit union has amassed loans and leases worth $602.5 million. CENTRIS's 96,817 members currently have $559.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CENTRIS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three key criteria Bankrate used to evaluate U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and provides protection for members during periods of financial trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial resilience, capital is useful. When looking at safety and soundness, the more capital, the better.

CENTRIS scored below the national average of 15.65 on our test to measure capital adequacy, scoring 6 out of a possible 30 points.

CENTRIS had a capitalization ratio of 6.00 percent in our test, less than the average for all credit unions, suggesting that it could have a harder time weathering 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 lots of these kinds of assets suggests a credit union may have to use capital to cover losses, shrinking its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in lower earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, CENTRIS scored 36 out of a possible 40 points, lower than the national average of 38.09 points.

A lower-than-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 long-term survivability. A credit union can retain its earnings, boosting its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

CENTRIS did above-average on Bankrate's test of earnings, achieving a score of 16 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting 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.