Safe and Sound

GOLDMARK

ATTLEBORO, MA
4
Star Rating
Started in 1956, GOLDMARK is an NCUA-insured credit union headquartered in ATTLEBORO, MA. The credit union holds assets of $30.4 million, according to December 31, 2017, regulatory filings.

Thanks to the work of 5 full-time employees, the credit union currently holds loans and leases worth $14.0 million. GOLDMARK's 3,271 members currently have $26.7 million in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial stability, capital is valuable. It works as a cushion 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.

On our test to measure the adequacy of a credit union's capital, GOLDMARK achieved a score of 16 out of a possible 30 points, beating the national average of 15.65.

GOLDMARK had a capitalization ratio of 16.00 percent in our test, equal to the average for all credit unions, a sign that it's running neck and neck with its peers.

Asset Quality Score

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

A credit union with extensive holdings of these kinds of assets may eventually have to use capital to absorb losses, cutting down on its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, reducing earnings and increasing the chances of a failure in the future.

On Bankrate's test of asset quality, GOLDMARK scored 40 out of a possible 40 points, beating the national average of 38.09 points.

A below-average ratio of problem 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 affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or use them to address problematic loans, likely making the credit union more resilient in times of trouble. Losses, on the other hand, diminish a credit union's ability to do those things.

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

One indication that GOLDMARK is outperforming 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.