Safe and Sound

FIRE FIGHTERS

Tulsa, OK
4
Star Rating
Founded in 1939, FIRE FIGHTERS is an NCUA-insured credit union based in Tulsa, OK. Regulatory filings show the credit union having assets of $38.3 million, as of December 31, 2017.

Thanks to the efforts of 10 full-time employees, the credit union has amassed loans and leases worth $22.4 million. Its 3,081 members currently have $31.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FIRE FIGHTERS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three major criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and affords protection for members during periods of economic trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial resilience, capital is useful. When it comes to safety and soundness, more capital is better.

On our test to measure the adequacy of a credit union's capital, FIRE FIGHTERS scored 22 out of a possible 30 points, above the national average of 15.65.

FIRE FIGHTERS appears to be stronger than its peers, with a capitalization ratio of 22.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

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

Having large numbers of these kinds of assets means a credit union may eventually have to use capital to absorb losses, shrinking its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, diminishing earnings and elevating the chances of a failure in the future.

FIRE FIGHTERS beat out the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

FIRE FIGHTERS's ratio of problem assets was 0.00 percent in our test, less than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money affects its long-term survivability. A credit union can retain its earnings, increasing its capital cushion, or use them to address problematic loans, potentially making the credit union better prepared to withstand economic shocks. Losses, on the other hand, take away from a credit union's ability to do those things.

On Bankrate's earnings test, FIRE FIGHTERS scored 6 out of a possible 30, less than the national average of 10.11.

FIRE FIGHTERS had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, a sign that it's outperforming 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.