Safe and Sound

FL. DEPT. OF TRANSPORTATION`

TALLAHASSEE, FL
4
Star Rating
FL. DEPT. OF TRANSPORTATION` is an NCUA-insured credit union founded in 1991 and currently based in TALLAHASSEE, FL. As of December 31, 2017, the credit union held assets of $50.2 million.

Thanks to the efforts of 15 full-time employees, the credit union has amassed loans and leases worth $17.7 million. FL. DEPT. OF TRANSPORTATION`'s 3,348 members currently have $41.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FL. DEPT. OF TRANSPORTATION` exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three key criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

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 affords protection for members during times of economic trouble for the credit union. When it comes to safety and soundness, the more capital, the better.

FL. DEPT. OF TRANSPORTATION` scored 24 out of a possible 30 points on our test to measure capital adequacy, beating out the national average of 15.65.

FL. DEPT. OF TRANSPORTATION` appears to be on more solid financial footing than its peers, with a capitalization ratio of 24.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

This test's purpose is to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.

A credit union with extensive holdings of these kinds of assets could eventually be forced to use capital to absorb losses, diminishing its equity cushion. 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, diminishing earnings and increasing the risk of a future failure.

On Bankrate's asset quality test, FL. DEPT. OF TRANSPORTATION` scored 40 out of a possible 40 points, better than the national average of 38.09 points.

FL. DEPT. OF TRANSPORTATION`'s ratio of problem assets was 0.00 percent in our test, below the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. A credit union can retain its earnings, boosting its capital buffer, or put them to work addressing problematic loans, potentially making the credit union better able to withstand financial shocks. Credit unions that are losing money, however, have less ability to do those things.

FL. DEPT. OF TRANSPORTATION` received below-average marks on Bankrate's test of earnings, achieving a score of 2 out of a possible 30.

One sign that FL. DEPT. OF TRANSPORTATION` is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, better than the average for all credit unions.

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.