Safe and Sound

FIRST BAPTIST CHURCH

East Elmhurst, NY
4
Star Rating
FIRST BAPTIST CHURCH is an NCUA-insured credit union started in 1975 and currently headquartered in East Elmhurst, NY. As of December 31, 2017, the credit union held assets of $304,475.

The credit union holds loans and leases worth $49,154. Its 168 members currently have $248,715 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FIRST BAPTIST CHURCH exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three major criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members during times of financial trouble for the credit union. Therefore, when it comes to measuring an an institution's financial resilience, capital is key. From a safety and soundness perspective, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, FIRST BAPTIST CHURCH achieved a score of 28 out of a possible 30 points, above the national average of 15.65.

FIRST BAPTIST CHURCH appears to be stronger than its peers, with a capitalization ratio of 28.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the effect of problem assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

A credit union with a large number of these kinds of assets may eventually have to use capital to cover losses, decreasing its cushion 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, resulting in diminished earnings and potentially more risk of a future failure.

FIRST BAPTIST CHURCH exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Earnings score

How successful a credit union is at making money has an effect on its safety and soundness. Earnings may be retained by the credit union, boosting its capital buffer, or be used to deal with problematic loans, potentially making the credit union more resilient in tough times. Conversely, losses reduce a credit union's ability to do those things.

FIRST BAPTIST CHURCH scored 0 out of a possible 30 on Bankrate's test of earnings, lower than the national average of 10.11.

One sign that FIRST BAPTIST CHURCH is doing better than 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.