Safe and Sound

EAST END BAPTIST TABERNACLE

BRIDGEPORT, CT
4
Star Rating
BRIDGEPORT, CT-based EAST END BAPTIST TABERNACLE is an NCUA-insured credit union started in 1982. As of December 31, 2017, the credit union held assets of $121,439.

EAST END BAPTIST TABERNACLE's 413 members currently have $99,570 in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $13,752.

Overall, Bankrate believes that, as of December 31, 2017, EAST END BAPTIST TABERNACLE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union did on the three key criteria Bankrate used to evaluate American 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 as protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an a credit union's financial fortitude, capital is crucial. When looking at safety and soundness, more capital is preferred.

EAST END BAPTIST TABERNACLE scored above the national average of 15.65 points on our test to measure capital adequacy, scoring 16 out of a possible 30 points.

EAST END BAPTIST TABERNACLE had a capitalization ratio of 16.00 percent in our test, identical the average for all credit unions, suggesting that it's running neck and neck with its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of problem assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having lots of these types of assets could eventually force a credit union to use capital to cover losses, cutting down on its equity buffer. 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 lower earnings and potentially more risk of a failure in the future.

EAST END BAPTIST TABERNACLE fell short of the national average of 38.09 on Bankrate's asset quality test, racking up 28 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money has an effect on its safety and soundness. A credit union can retain its earnings, giving a boost to its capital buffer, or put them to work addressing 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.

EAST END BAPTIST TABERNACLE scored 12 out of a possible 30 on Bankrate's earnings test, beating the national average of 10.11.

One sign that the credit union is outperforming 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.