Safe and Sound

FIRST MISSOURI

Saint Louis, MO
4
Star Rating
FIRST MISSOURI is a Saint Louis, MO-based, NCUA-insured credit union dating back to 1927. Regulatory filings show the credit union having $65.2 million in assets, as of December 31, 2017.

Members have $53.1 million on deposit tended by 23 full-time employees. With that footprint, the credit union holds loans and leases worth $53.1 million. Its 8,607 members currently have $56.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FIRST MISSOURI exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at 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 works as a bulwark against losses and affords protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an an institution's financial fortitude, capital is essential. When it comes to safety and soundness, the higher the capital, the better.

FIRST MISSOURI received a score of 14 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, below the national average of 15.65.

FIRST MISSOURI had a capitalization ratio of 14.00 percent in our test, worse than the average for all credit unions, an indication that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

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

A credit union with large numbers of these kinds of assets may eventually be required to use capital to cover 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, resulting in depressed earnings and potentially more risk of a future failure.

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

A below-average ratio of problem assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. Earnings can be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union better able to withstand economic shocks. Credit unions that are losing money, however, are less able to do those things.

FIRST MISSOURI received above-average marks on Bankrate's test of earnings, achieving a score of 12 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, suggesting 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.