Safe and Sound

CO-OPERATIVE

WOODRIDGE, NY
3
Star Rating
CO-OPERATIVE is an NCUA-insured credit union founded in 1936 and currently headquartered in WOODRIDGE, NY. As of December 31, 2017, the credit union had assets of $6.0 million.

The credit union currently holds loans and leases worth $1.7 million. Its 613 members currently have $5.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CO-OPERATIVE exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a look at how the credit union did on the three key criteria Bankrate used to score American credit unions.

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SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of an institution's financial fortitude. It works as a bulwark against losses and affords protection for members when a credit union is struggling financially. When it comes to safety and soundness, more capital is better.

CO-OPERATIVE did better than the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, scoring 20 out of a possible 30 points.

CO-OPERATIVE's capitalization ratio of 20.00 percent in our test was better than the average for all credit unions, suggesting that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

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

A credit union with lots of these types of assets could eventually have to use capital to cover losses, shrinking its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning money, diminishing earnings and increasing the risk of a future failure.

CO-OPERATIVE finished 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

A credit union's profitability has an effect on its safety and soundness. A credit union can retain its earnings, boosting its capital buffer, or use them to deal with problematic loans, potentially making the credit union more resilient in times of trouble. Obviously, credit unions that are losing money are less able to do those things.

On Bankrate's earnings test, CO-OPERATIVE scored 0 out of a possible 30, falling short of the national average of 10.11.

One indication that the credit union is beating its peers in this area was its earnings ratio of 0.00 percent in our test, higher 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.