Safe and Sound

FIRST TULSA

TULSA, OK
4
Star Rating
TULSA, OK-based FIRST TULSA is an NCUA-insured credit union started in 1973. The credit union holds $12.3 million in assets, according to December 31, 2017, regulatory filings.

With 4 full-time employees, the credit union currently holds loans and leases worth $9.5 million. Its 1,698 members currently have $10.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FIRST TULSA exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three important criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is an essential measurement of a credit union's financial resilience. It works as a cushion against losses and provides protection for members when a credit union is struggling financially. When it comes to safety and soundness, the higher the capital, the better.

FIRST TULSA exceeded the national average of 15.65 points on our test to measure capital adequacy, receiving a score of 20 out of a possible 30 points.

FIRST TULSA had a capitalization ratio of 20.00 percent in our test, higher than the average for all credit unions, suggesting that it's on more solid financial footing than its peers.

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 large numbers of these types of assets suggests a credit union could eventually have to use capital to cover losses, reducing its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in depressed earnings and potentially more risk of a future failure.

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

The credit union's ratio of problem assets was 0.00 percent in our test, below the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, likely making the credit union better prepared to withstand financial trouble. Credit unions that are losing money, however, have less ability to do those things.

FIRST TULSA received below-average marks on Bankrate's test of earnings, achieving a score of 8 out of a possible 30.

FIRST TULSA had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication 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.