Safe and Sound

CO - LIB

Saint Louis, MO
1
Star Rating
CO - LIB is an NCUA-insured credit union founded in 1955 and currently headquartered in Saint Louis, MO. As of December 31, 2017, the credit union held assets of $1.1 million.

The credit union currently holds loans and leases worth $361,819. CO - LIB's 253 members currently have $972,598 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CO - LIB exhibited a significantly below-average condition, earning 1 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and affords protection for members when a credit union is struggling financially. It follows then that when it comes to measuring an a credit union's financial resilience, capital is important. When it comes to safety and soundness, the higher the capital, the better.

CO - LIB scored below the national average of 15.65 on our test to measure capital adequacy, racking up 10 out of a possible 30 points.

CO - LIB's capitalization ratio of 10.00 percent in our test was lower than the average for all credit unions, suggesting that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as past-due mortgages.

A credit union with large numbers of these kinds of assets could eventually have to use capital to cover losses, cutting down on its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and increasing the risk of a future failure.

CO - LIB scored 24 out of a possible 40 points on Bankrate's test of asset quality, lower than the national average of 38.09.

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

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or use them to deal with problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money are less able to do those things.

CO - LIB scored 0 out of a possible 30 on Bankrate's earnings test, failing to reach the national average of 10.11.

One indication that the credit union is doing better than 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.