Safe and Sound

FIRST EAGLE

Owings Mills, MD
4
Star Rating
FIRST EAGLE is an NCUA-insured credit union founded in 1956 and currently based in Owings Mills, MD. The credit union has $89.4 million in assets, according to December 31, 2017, regulatory filings.

Members have $55.0 million on deposit tended by 24 full-time employees. With that footprint, the credit union has amassed loans and leases worth $55.0 million. FIRST EAGLE's 9,505 members currently have $80.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FIRST EAGLE 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 important criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and provides protection for members when a credit union is experiencing economic instability. It follows then that when it comes to measuring an an institution's financial strength, capital is key. From a safety and soundness perspective, the higher the capital, the better.

FIRST EAGLE received a score of 10 out of a possible 30 points on our test to measure capital adequacy, less than the national average of 15.65.

FIRST EAGLE had a capitalization ratio of 10.00 percent in our test, lower than the average for all credit unions, suggesting that it's weaker than its peers.

Asset Quality Score

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

Having large numbers of these types of assets could eventually require a credit union to use capital to absorb losses, shrinking 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 interest for the credit union, decreasing earnings and increasing the risk of a failure in the future.

FIRST EAGLE scored 40 out of a possible 40 points on Bankrate's test of asset quality, exceeding the national average of 38.09.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, below the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. Earnings can be retained by the credit union, boosting its capital buffer, or be used to address problematic loans, potentially making the credit union more resilient in tough times. Losses, on the other hand, take away from a credit union's ability to do those things.

FIRST EAGLE underperformed the average on Bankrate's test of earnings, achieving a score of 8 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's running ahead of 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.