Safe and Sound

DORT

GRAND BLANC, MI
5
Star Rating
DORT is a GRAND BLANC, MI-based, NCUA-insured credit union that opened its doors in 1951. As of December 31, 2017, the credit union had assets of $783.7 million.

Members have $639.1 million on deposit tended by 157 full-time employees. With that footprint, the credit union has amassed loans and leases worth $639.1 million. Its 83,535 members currently have $634.2 million in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and as protection for members when a credit union is experiencing economic instability. Therefore, a credit union's level of capital is a useful measurement of its financial resilience. From a safety and soundness perspective, the higher the capital, the better.

DORT did better than the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, receiving a score of 26 out of a possible 30 points.

DORT appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 26.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

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

A credit union with a large number of these kinds of assets could eventually be required to use capital to cover losses, decreasing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and increasing the risk of a future failure.

On Bankrate's test of asset quality, DORT scored 40 out of a possible 40 points, beating out the national average of 38.09 points.

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

Earnings score

A credit union's ability to earn money affects its safety and soundness. Earnings may be retained by the credit union, boosting its capital buffer, or be used to deal with problematic loans, likely making the credit union more resilient in tough times. Losses, on the other hand, take away from a credit union's ability to do those things.

DORT scored 16 out of a possible 30 on Bankrate's earnings test, beating the national average of 10.11.

DORT had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign that it's outperforming 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.