Safe and Sound

DEPARTMENT OF PUBLIC SAFETY

Oklahoma City, OK
5
Star Rating
Started in 1953, DEPARTMENT OF PUBLIC SAFETY is an NCUA-insured credit union based in Oklahoma City, OK. Regulatory filings show the credit union having assets of $26.3 million, as of December 31, 2017.

With 8 full-time employees, the credit union has amassed loans and leases worth $10.0 million. DEPARTMENT OF PUBLIC SAFETY's 2,698 members currently have $20.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, DEPARTMENT OF PUBLIC SAFETY exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three key criteria Bankrate used to score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and affords protection for members when a credit union is experiencing financial trouble. Therefore, an institution's level of capital is an important measurement of its financial fortitude. When looking at safety and soundness, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, DEPARTMENT OF PUBLIC SAFETY racked up 28 out of a possible 30 points, above the national average of 15.65.

DEPARTMENT OF PUBLIC SAFETY appears to be on more solid financial footing than its peers, with a capitalization ratio of 28.00 percent in our test, higher than the average for all credit unions.

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 unpaid loans.

Having a large number of these types of assets could eventually require a credit union to use capital to absorb losses, diminishing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, decreasing earnings and elevating the chances of a future failure.

DEPARTMENT OF PUBLIC SAFETY scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, likely making the credit union better able to withstand financial shocks. Credit unions that are losing money, however, are less able to do those things.

DEPARTMENT OF PUBLIC SAFETY did below-average on Bankrate's test of earnings, achieving a score of 2 out of a possible 30.

One indication that the credit union is beating its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.