Safe and Sound

COXSACKIE CORRECTIONAL EMP.

COXSACKIE, NY
5
Star Rating
COXSACKIE, NY-based COXSACKIE CORRECTIONAL EMP. is an NCUA-insured credit union started in 1935. As of December 31, 2017, the credit union held assets of $3.4 million.

The credit union holds loans and leases worth $2.0 million. Its 583 members currently have $2.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, COXSACKIE CORRECTIONAL EMP. exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three major 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

Capital is a valuable measurement of an institution's financial strength. It acts as a buffer against losses and provides protection for members when a credit union is experiencing financial trouble. When it comes to safety and soundness, the more capital, the better.

COXSACKIE CORRECTIONAL EMP. exceeded the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 30 out of a possible 30 points.

COXSACKIE CORRECTIONAL EMP.'s capitalization ratio of 30.00 percent in our test was higher than the average for all credit unions, suggesting that it's on more solid financial footing than its peers.

Asset Quality Score

This test is intended to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.

A credit union with extensive holdings of these types of assets may eventually be forced to use capital to cover losses, shrinking its equity buffer. 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 failure in the future.

COXSACKIE CORRECTIONAL EMP. scored 40 out of a possible 40 points on Bankrate's asset quality test, exceeding the national average of 38.09.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money 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 better prepared to withstand financial trouble. Obviously, credit unions that are losing money have less ability to do those things.

COXSACKIE CORRECTIONAL EMP. fell behind the national average on Bankrate's earnings test, achieving a score of 10 out of a possible 30.

One sign that COXSACKIE CORRECTIONAL EMP. is doing better than 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.