Safe and Sound

FRESNO FIRE DEPARTMENT

FRESNO, CA
4
Star Rating
Started in 1935, FRESNO FIRE DEPARTMENT is an NCUA-insured credit union based in FRESNO, CA. Regulatory filings show the credit union having $34.8 million in assets, as of December 31, 2017.

With 4 full-time employees, the credit union currently holds loans and leases worth $13.4 million. Its 2,516 members currently have $29.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, FRESNO FIRE DEPARTMENT 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 important criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial stability, capital is valuable. It acts as a buffer against losses and provides protection for members when a credit union is experiencing financial instability. When looking at safety and soundness, the more capital, the better.

FRESNO FIRE DEPARTMENT beat out the national average of 15.65 points on our test to measure capital adequacy, scoring 18 out of a possible 30 points.

FRESNO FIRE DEPARTMENT appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 18.00 percent in our test, better than the average for all credit unions.

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.

A credit union with lots of these kinds of assets may eventually have to use capital to absorb losses, reducing 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, reducing earnings and elevating the risk of a future failure.

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

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

A credit union's earnings performance has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money have less ability to do those things.

On Bankrate's earnings test, FRESNO FIRE DEPARTMENT scored 4 out of a possible 30, coming in below the national average of 10.11.

FRESNO FIRE DEPARTMENT had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's doing better than 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.