Safe and Sound

ELEVATIONS

BOULDER, CO
5
Star Rating
ELEVATIONS is an NCUA-insured credit union founded in 1952 and currently based in BOULDER, CO. Regulatory filings show the credit union having assets of $1.96 billion, as of December 31, 2017.

Thanks to the work of 477 full-time employees, the credit union currently holds loans and leases worth $1.40 billion. ELEVATIONS's 129,703 members currently have $1.72 billion in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial resilience, capital is crucial. It acts as a cushion against losses and as protection for members during periods of financial trouble for the credit union. When looking at safety and soundness, the more capital, the better.

ELEVATIONS received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, failing to reach the national average of 15.65.

ELEVATIONS had a capitalization ratio of 12.00 percent in our test, lower than the average for all credit unions, an indication that it could have a harder time weathering financial trouble than its peers.

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.

Earnings score

A credit union's profitability affects its long-term survivability. A credit union can retain its earnings, giving a boost to its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses lessen a credit union's ability to do those things.

ELEVATIONS scored 20 out of a possible 30 on Bankrate's test of earnings, better than the national average of 10.11.

One indication that the credit union is running ahead of 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.