Safe and Sound

CITYMARK

WILKES BARRE, PA
5
Star Rating
CITYMARK is a WILKES BARRE, PA-based, NCUA-insured credit union founded in 1960. As of December 31, 2017, the credit union held assets of $41.5 million.

With 7 full-time employees, the credit union has amassed loans and leases worth $34.2 million. CITYMARK's 2,121 members currently have $33.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CITYMARK exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three major criteria Bankrate used to score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial strength, capital is valuable. It acts as a bulwark against losses and as protection for members during periods of economic instability for the credit union. When looking at safety and soundness, more capital is preferred.

CITYMARK exceeded the national average of 15.65 points on our test to measure capital adequacy, receiving a score of 20 out of a possible 30 points.

CITYMARK appears to be stronger than its peers, with a capitalization ratio of 20.00 percent in our test, above the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to determine the impact of troubled assets, such as unpaid mortgages, on the credit union's capitalization and allocated loan loss reserves.

A credit union with lots of these kinds of assets could eventually have to use capital to cover losses, decreasing 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 reduced earnings and potentially more risk of a failure in the future.

CITYMARK did better than the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

CITYMARK's ratio of troubled assets was 0.00 percent in our test, less than the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance affects its long-term survivability. Earnings can be retained by the credit union, boosting its capital cushion, or be used to address problematic loans, likely making the credit union better prepared to withstand economic shocks. Conversely, losses diminish a credit union's ability to do those things.

On Bankrate's test of earnings, CITYMARK scored 22 out of a possible 30, exceeding the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, an indication that it's outperforming 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.