Safe and Sound

GREAT BASIN

Reno, NV
4
Star Rating
Reno, NV-based GREAT BASIN is an NCUA-insured credit union founded in 1951. Regulatory filings show the credit union having assets of $171.2 million, as of December 31, 2017.

Thanks to the efforts of 51 full-time employees, the credit union currently holds loans and leases worth $123.1 million. Its 18,603 members currently have $152.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GREAT BASIN 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 grade American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and as protection for members when a credit union is struggling financially. Therefore, an institution's level of capital is a valuable measurement of its financial strength. When it comes to safety and soundness, the more capital, the better.

GREAT BASIN received a score of 10 out of a possible 30 points on our test to measure capital adequacy, less than the national average of 15.65.

GREAT BASIN had a capitalization ratio of 10.00 percent in our test, below the average for all credit unions, an indication that it's on less solid financial footing than its peers.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

Having extensive holdings of these kinds of assets may eventually require a credit union 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 no longer earning money, resulting in lower earnings and potentially more risk of a failure in the future.

GREAT BASIN exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

GREAT BASIN's ratio of problem assets was 0.00 percent in our test, below the national average and potentially indicative of superior financial strength compared to 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 use them to deal with problematic loans, likely making the credit union more resilient in times of trouble. Conversely, losses lessen a credit union's ability to do those things.

GREAT BASIN received above-average marks on Bankrate's test of earnings, achieving a score of 18 out of a possible 30.

One sign 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.