Safe and Sound

EAGLE ONE

Claymont, DE
4
Star Rating
Claymont, DE-based EAGLE ONE is an NCUA-insured credit union founded in 1935. The credit union holds assets of $79.7 million, according to December 31, 2017, regulatory filings.

Thanks to the efforts of 26 full-time employees, the credit union holds loans and leases worth $44.3 million. Its 11,773 members currently have $71.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, EAGLE ONE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three important criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and provides protection for members when a credit union is experiencing economic trouble. Therefore, when it comes to measuring an a credit union's financial resilience, capital is essential. When looking at safety and soundness, more capital is better.

EAGLE ONE came in below the national average of 15.65 on our test to measure the adequacy of a credit union's capital, racking up 10 out of a possible 30 points.

EAGLE ONE had a capitalization ratio of 10.00 percent in our test, below the average for all credit unions, an indication that it's on less solid financial footing 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 mortgages.

Having a large number of these types of assets means a credit union could eventually have to use capital to cover losses, reducing 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 increasing the risk of a failure in the future.

EAGLE ONE scored below the national average of 38.09 on Bankrate's asset quality test, racking up 36 out of a possible 40 points .

A lower-than-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

A credit union's earnings performance affects its long-term survivability. A credit union can retain its earnings, expanding its capital cushion, or use them to deal with problematic loans, potentially making the credit union better able to withstand economic shocks. Obviously, credit unions that are losing money are less able to do those things.

EAGLE ONE scored 20 out of a possible 30 on Bankrate's test of earnings, beating the national average of 10.11.

One sign that the credit union is beating 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.