Asset Quality Score
In this test, Bankrate tries to determine the effect 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.
A credit union with extensive holdings of these kinds of assets could eventually have to use capital to cover losses, cutting down on its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.
FIRST COAST COMMUNITY scored 40 out of a possible 40 points on Bankrate's asset quality test, beating the national average of 38.09.
Troubled assets made up 0.00 percent of FIRST COAST COMMUNITY's total assets in our test, less than the national average and suggestive of superior financial strength compared to other credit unions.