Safe and Sound

CONSOLIDATED CONTROLS CORP.

BETHEL, CT
5
Star Rating
BETHEL, CT-based CONSOLIDATED CONTROLS CORP. is an NCUA-insured credit union founded in 1982. As of December 31, 2017, the credit union had assets of $1.1 million.

The credit union holds loans and leases worth $747,273. Its 238 members currently have $921,817 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CONSOLIDATED CONTROLS CORP. exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a look at how the credit union did on the three important 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 a credit union's financial resilience, capital is essential. It works as a cushion against losses and affords protection for members during periods of financial instability for the credit union. When it comes to safety and soundness, more capital is preferred.

CONSOLIDATED CONTROLS CORP. achieved a score of 26 out of a possible 30 points on our test to measure capital adequacy, above the national average of 15.65.

CONSOLIDATED CONTROLS CORP. had a capitalization ratio of 26.00 percent in our test, better than the average for all credit unions, a sign that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

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

A credit union with a large number of these kinds of assets could eventually be required to use capital to absorb losses, decreasing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in diminished earnings and potentially more risk of a failure in the future.

CONSOLIDATED CONTROLS CORP. scored 40 out of a possible 40 points on Bankrate's test of asset quality, above the national average of 38.09.

Earnings score

A credit union's earnings performance affects its long-term survivability. Earnings may be retained by the credit union, boosting its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in tough times. Conversely, losses diminish a credit union's ability to do those things.

CONSOLIDATED CONTROLS CORP. received below-average marks on Bankrate's earnings test, achieving a score of 6 out of a possible 30.

One sign 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.