Safe and Sound

CREDIT UNION OF OHIO

Hilliard, OH
4
Star Rating
HILLIARD, OH-based CREDIT UNION OF OHIO is an NCUA-insured credit union founded in 0. As of December 31, 2017, the credit union held assets of $137.2 million.

Members have $64.9 million on deposit tended by 49 full-time employees. With that footprint, the credit union has amassed loans and leases worth $64.9 million. Its 18,890 members currently have $122.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CREDIT UNION OF OHIO exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three important criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is an essential measurement of a credit union's financial fortitude. It acts as a bulwark against losses and as protection for members when a credit union is struggling financially. When looking at safety and soundness, the higher the capital, the better.

On our test to measure capital adequacy, CREDIT UNION OF OHIO received a score of 12 out of a possible 30 points, failing to reach the national average of 15.65.

CREDIT UNION OF OHIO appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 12.00 percent in our test, below the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the impact of problem assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

Having a large number of these types of assets means a credit union could have to use capital to absorb losses, reducing its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, decreasing earnings and increasing the risk of a failure in the future.

CREDIT UNION OF OHIO scored 40 out of a possible 40 points on Bankrate's asset quality test, above the national average of 38.09.

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

How successful a credit union is at earning money has an effect on its long-term survivability. Earnings may be retained by the credit union, boosting its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand economic shocks. Losses, on the other hand, take away from a credit union's ability to do those things.

On Bankrate's test of earnings, CREDIT UNION OF OHIO scored 4 out of a possible 30, coming in below the national average of 10.11.

One indication that CREDIT UNION OF OHIO is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, better 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.