Safe and Sound

COAST360

Maite, GU
4
Star Rating
COAST360 is an NCUA-insured credit union founded in 1962 and currently based in Maite, GU. Regulatory filings show the credit union having $375.5 million in assets, as of December 31, 2017.

Members have $287.5 million on deposit tended by 138 full-time employees. With that footprint, the credit union currently holds loans and leases worth $287.5 million. COAST360's 50,792 members currently have $306.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, COAST360 exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and provides protection for members when a credit union is experiencing financial instability. Therefore, when it comes to measuring an a credit union's financial strength, capital is key. From a safety and soundness perspective, the higher the capital, the better.

COAST360 scored above the national average of 15.65 points on our test to measure capital adequacy, achieving a score of 18 out of a possible 30 points.

COAST360's capitalization ratio of 18.00 percent in our test was above the average for all credit unions, a sign that it's stronger than its peers.

Asset Quality Score

In this test, Bankrate tries to determine the impact of troubled assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having lots of these types of assets may eventually force a credit union to use capital to absorb losses, diminishing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in reduced earnings and potentially more risk of a future failure.

COAST360 exceeded the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, less than the national average and 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, expanding its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. Losses, on the other hand, reduce a credit union's ability to do those things.

On Bankrate's earnings test, COAST360 scored 8 out of a possible 30, lower than the national average of 10.11.

One sign that COAST360 is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.