Safe and Sound

GOODYEAR SAN ANGELO

SAN ANGELO, TX
4
Star Rating
GOODYEAR SAN ANGELO is an NCUA-insured credit union started in 1974 and currently headquartered in SAN ANGELO, TX. Regulatory filings show the credit union having $2.3 million in assets, as of December 31, 2017.

Its 299 members currently have $2.1 million in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $2.0 million.

Overall, Bankrate believes that, as of December 31, 2017, GOODYEAR SAN ANGELO exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three important criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and as protection for members during periods of economic trouble for the credit union. It follows then that when it comes to measuring an an institution's financial strength, capital is important. When looking at safety and soundness, the more capital, the better.

On our test to measure capital adequacy, GOODYEAR SAN ANGELO received a score of 12 out of a possible 30 points, falling short of the national average of 15.65.

GOODYEAR SAN ANGELO appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 12.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as past-due 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 may eventually be forced to use capital to cover losses, shrinking 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, reducing earnings and increasing the chances of a future failure.

On Bankrate's test of asset quality, GOODYEAR SAN ANGELO scored 40 out of a possible 40 points, better than 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 greater financial strength than other credit unions.

Earnings score

A credit union's profitability has an effect on its long-term survivability. Earnings can be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

On Bankrate's test of earnings, GOODYEAR SAN ANGELO scored 14 out of a possible 30, beating the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting 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.