Asset Quality Score
Bankrate uses this test to estimate 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.
Having extensive holdings of these kinds of assets may eventually require a credit union to use capital to absorb losses, shrinking its equity buffer. 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 lower earnings and potentially more risk of a future failure.
FIRST PIONEERS scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating out the national average of 38.09.
Troubled assets made up 0.00 percent of the credit union's total assets in our test, less than the national average and potentially indicative of greater financial strength than other credit unions.