Safe and Sound

GALLUP

Omaha, NE
4
Star Rating
Omaha, NE-based GALLUP is an NCUA-insured credit union founded in 1979. As of December 31, 2017, the credit union held assets of $17.3 million.

With 5 full-time employees, the credit union currently holds loans and leases worth $13.7 million. Its 2,151 members currently have $14.8 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GALLUP exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three key 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 buffer against losses and affords protection for members during times of economic trouble for the credit union. It follows then that when it comes to measuring an an institution's financial resilience, capital is crucial. When looking at safety and soundness, more capital is preferred.

GALLUP scored 16 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, beating the national average of 15.65.

GALLUP had a capitalization ratio of 16.00 percent in our test, the same as the average for all credit unions, suggesting that it's right in line with its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as past-due mortgages.

Having extensive holdings of these types of assets means a credit union could have to use capital to absorb losses, cutting down on 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, diminishing earnings and elevating the risk of a failure in the future.

GALLUP scored 40 out of a possible 40 points on Bankrate's test of asset quality, better than the national average of 38.09.

Troubled assets made up 0.00 percent of GALLUP's total assets in our test, lower than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money 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 trouble. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's earnings test, GALLUP scored 4 out of a possible 30, lower than the national average of 10.11.

One indication that the credit union is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.