Safe and Sound

CORRY JAMESTOWN

CORRY, PA
4
Star Rating
Started in 1954, CORRY JAMESTOWN is an NCUA-insured credit union headquartered in CORRY, PA. The credit union holds assets of $18.3 million, according to December 31, 2017, regulatory filings.

With 7 full-time employees, the credit union has amassed loans and leases worth $7.3 million. CORRY JAMESTOWN's 3,070 members currently have $14.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CORRY JAMESTOWN exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three major criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial resilience, capital is valuable. It works as a bulwark against losses and provides protection for members when a credit union is struggling financially. From a safety and soundness perspective, the higher the capital, the better.

CORRY JAMESTOWN exceeded the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, receiving a score of 16 out of a possible 30 points.

CORRY JAMESTOWN had a capitalization ratio of 16.00 percent in our test, the same as the average for all credit unions, a sign that it's right in line with its peers.

Asset Quality Score

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

Having large numbers of these types of assets may eventually force a credit union to use capital to absorb losses, cutting down on its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.

CORRY JAMESTOWN fell below the national average of 38.09 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

A below-average ratio of problem assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in tough times. However, credit unions that are losing money are less able to do those things.

CORRY JAMESTOWN received below-average marks on Bankrate's test of earnings, achieving a score of 4 out of a possible 30.

One sign that CORRY JAMESTOWN is running ahead of 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.