Safe and Sound

ENVISTA

Topeka, KS
4
Star Rating
Topeka, KS-based ENVISTA is an NCUA-insured credit union founded in 1957. As of December 31, 2017, the credit union held assets of $349.2 million.

Thanks to the efforts of 101 full-time employees, the credit union currently holds loans and leases worth $316.8 million. ENVISTA's 42,426 members currently have $288.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ENVISTA exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three major criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and as protection for members when a credit union is experiencing financial instability. Therefore, an institution's level of capital is an important measurement of its financial strength. When it comes to safety and soundness, more capital is preferred.

On our test to measure capital adequacy, ENVISTA received a score of 10 out of a possible 30 points, falling short of the national average of 15.65.

ENVISTA appears to be weaker than its peers in this area, with a capitalization ratio of 10.00 percent in our test, lower than the average for all credit unions.

Asset Quality Score

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

Having extensive holdings of these types of assets suggests a credit union may eventually have to use capital to cover losses, decreasing its buffer of equity. 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, pushing down earnings and increasing the chances of a failure in the future.

ENVISTA scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

Troubled assets made up 0.00 percent of ENVISTA's total assets in our test, lower than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. 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 able to withstand economic trouble. Obviously, credit unions that are losing money have less ability to do those things.

ENVISTA scored 16 out of a possible 30 on Bankrate's earnings test, better than the national average of 10.11.

One sign that ENVISTA is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, higher 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.