Safe and Sound

EMPIRE BR 36 NATL ASSOC OF LE CARR

NEW YORK, NY
NR
Star Rating
EMPIRE BR 36 NATL ASSOC OF LE CARR is a NEW YORK, NY-based, NCUA-insured credit union dating back to 1939. As of December 31, 2017, the credit union had assets of $5.0 million.

Members have $2.7 million on deposit tended by 2 full-time employees. With that footprint, the credit union holds loans and leases worth $2.7 million. Its 1,404 members currently have $4.6 million in shares with the credit union.

Overall, Bankrate did not have enough information on this institution to give it a star rating. Keep reading for a breakdown of how the credit union did on the three important criteria Bankrate used to evaluate U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial strength. It works as a buffer against losses and as protection for members when a credit union is experiencing economic trouble. When looking at safety and soundness, the higher the capital, the better.

On our test to measure capital adequacy, EMPIRE BR 36 NATL ASSOC OF LE CARR received a score of 6 out of a possible 30 points, failing to reach the national average of 15.65.

EMPIRE BR 36 NATL ASSOC OF LE CARR appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 6.00 percent in our test, lower than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the impact of troubled assets, such as unpaid loans, on the credit union's capitalization and allocated loan loss reserves.

Having lots of these types of assets means a credit union may eventually have to use capital to absorb losses, shrinking 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 depressed earnings and potentially more risk of a failure in the future.

On Bankrate's test of asset quality, EMPIRE BR 36 NATL ASSOC OF LE CARR scored 32 out of a possible 40 points, lower than the national average of 38.09 points.

A below-average ratio of problem assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. Earnings can be retained by the credit union, expanding its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand economic shocks. Conversely, losses take away from a credit union's ability to do those things.

On Bankrate's earnings test, EMPIRE BR 36 NATL ASSOC OF LE CARR scored 0 out of a possible 30, lower than the national average of 10.11.

EMPIRE BR 36 NATL ASSOC OF LE CARR had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, suggesting that it's doing better than 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.