Safe and Sound

GOOD STREET BAPTIST CHURCH

Dallas, TX
1
Star Rating
Dallas, TX-based GOOD STREET BAPTIST CHURCH is an NCUA-insured credit union founded in 1957. Regulatory filings show the credit union having $641,839 in assets, as of June 30, 2017.

Its 642 members currently have $599,412 in shares with the credit union. With that footprint, the credit union holds loans and leases worth $301,399.

Overall, Bankrate believes that, as of June 30, 2017, GOOD STREET BAPTIST CHURCH exhibited a significantly below-average condition, earning 1 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union did on the three major criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of an institution's financial resilience. It acts as a buffer against losses and as protection for members when a credit union is struggling financially. When looking at safety and soundness, the higher the capital, the better.

GOOD STREET BAPTIST CHURCH finished below the national average of 15.26 on our test to measure the adequacy of a credit union's capital, racking up 4 out of a possible 30 points.

GOOD STREET BAPTIST CHURCH had a capitalization ratio of 6.00 percent in our test, lower than the average for all credit unions, a sign that it's weaker than its peers.

Asset Quality Score

In this test, Bankrate tries to determine the impact of problem assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with large numbers of these kinds of assets could eventually be forced to use capital to absorb losses, cutting down on its buffer 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, resulting in lower earnings and potentially more risk of a failure in the future.

GOOD STREET BAPTIST CHURCH fell short of the national average of 38.15 on Bankrate's asset quality test, racking up 0 out of a possible 40 points .

A higher-than-average ratio of problem assets of 111.00 percent in our test was something to watch for the credit union.

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. Earnings can be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, likely making the credit union better prepared to withstand financial trouble. Conversely, losses diminish a credit union's ability to do those things.

On Bankrate's earnings test, GOOD STREET BAPTIST CHURCH scored 0 out of a possible 30, coming in below the national average of 10.31.

One sign that GOOD STREET BAPTIST CHURCH is lagging behind its peers in this area was its earnings ratio of -176.00 percent in our test, lower 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.