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.