Asset Quality Score
Bankrate uses this test to estimate the effect of troubled assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.
A credit union with a large number of these kinds of assets could eventually be required to use capital to absorb losses, reducing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.
On Bankrate's asset quality test, ELEVATIONS scored 40 out of a possible 40 points, exceeding the national average of 38.09 points.
ELEVATIONS's ratio of problem assets was 0.00 percent in our test, below the national average and suggestive of superior financial strength compared to other credit unions.