Safe and Sound

EXPRESS

Seattle, WA
4
Star Rating
EXPRESS is an NCUA-insured credit union started in 1934 and currently based in Seattle, WA. Regulatory filings show the credit union having assets of $12.1 million, as of December 31, 2017.

Members have $10.6 million on deposit tended by 11 full-time employees. With that footprint, the credit union has amassed loans and leases worth $10.6 million. EXPRESS's 3,092 members currently have $8.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, EXPRESS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of an institution's financial strength. It works as a buffer against losses and affords protection for members when a credit union is struggling financially. From a safety and soundness perspective, the more capital, the better.

EXPRESS finished below the national average of 15.65 on our test to measure capital adequacy, achieving a score of 12 out of a possible 30 points.

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

Asset Quality Score

This test is intended to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid mortgages.

A credit union with large numbers of these types of assets could eventually be forced to use capital to absorb losses, diminishing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, decreasing earnings and increasing the chances of a failure in the future.

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

A below-average ratio of troubled assets of 0.00 percent in our test was 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. Earnings can be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, potentially making the credit union better able to withstand economic shocks. Losses, on the other hand, diminish a credit union's ability to do those things.

On Bankrate's test of earnings, EXPRESS scored 6 out of a possible 30, falling short of the national average of 10.11.

One sign that EXPRESS 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.