Safe and Sound

COUNTRY

MACCLENNY, FL
4
Star Rating
COUNTRY is an NCUA-insured credit union started in 1967 and currently headquartered in MACCLENNY, FL. Regulatory filings show the credit union having $76.5 million in assets, as of December 31, 2017.

Thanks to the work of 25 full-time employees, the credit union currently holds loans and leases worth $55.8 million. Its 6,196 members currently have $68.5 million in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and as protection for members when a credit union is experiencing financial instability. It follows then that a credit union's level of capital is an essential measurement of its financial resilience. From a safety and soundness perspective, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, COUNTRY received a score of 8 out of a possible 30 points, less than the national average of 15.65.

COUNTRY appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 8.00 percent in our test, below the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the effect of troubled assets, such as unpaid mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having large numbers of these types of assets could eventually require a credit union to use capital to cover losses, reducing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, decreasing earnings and elevating the risk of a future failure.

On Bankrate's asset quality test, COUNTRY scored 36 out of a possible 40 points, falling short of the national average of 38.09 points.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's profitability has an effect on its long-term survivability. Earnings can be retained by the credit union, expanding its capital buffer, or be used to deal with problematic loans, likely making the credit union better prepared to withstand economic shocks. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's test of earnings, COUNTRY scored 22 out of a possible 30, above the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign that it's running ahead of its peers in this area.

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.