Safe and Sound

CRIERS

Monroe Township, NJ
5
Star Rating
Monroe Township, NJ-based CRIERS is an NCUA-insured credit union started in 1946. Regulatory filings show the credit union having assets of $1.9 million, as of December 31, 2017.

The credit union currently holds loans and leases worth $241,992. Its 205 members currently have $1.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, CRIERS exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three key criteria Bankrate used to evaluate American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital works as a buffer against losses and affords protection for members when a credit union is struggling financially. It follows then that when it comes to measuring an an institution's financial strength, capital is essential. When looking at safety and soundness, the higher the capital, the better.

On our test to measure the adequacy of a credit union's capital, CRIERS scored 30 out of a possible 30 points, beating the national average of 15.65.

CRIERS's capitalization ratio of 30.00 percent in our test was better than the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

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

Having large numbers of these types of assets means a credit union may have to use capital to absorb losses, diminishing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a failure in the future.

CRIERS scored above the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Earnings score

How successful a credit union is at making money affects its safety and soundness. Earnings may be retained by the credit union, increasing 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.

CRIERS received below-average marks on Bankrate's earnings test, achieving a score of 2 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's beating 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.