Safe and Sound

GREAT MEADOW

GRANVILLE, NY
4
Star Rating
GREAT MEADOW is a GRANVILLE, NY-based, NCUA-insured credit union founded in 1956. As of December 31, 2017, the credit union held assets of $31.5 million.

With 14 full-time employees, the credit union currently holds loans and leases worth $25.4 million. Its 3,815 members currently have $26.6 million in shares with the credit union.

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

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial fortitude, capital is key. It works as a buffer against losses and affords protection for members when a credit union is experiencing economic instability. From a safety and soundness perspective, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, GREAT MEADOW achieved a score of 20 out of a possible 30 points, exceeding the national average of 15.65.

GREAT MEADOW had a capitalization ratio of 20.00 percent in our test, higher than the average for all credit unions, suggesting that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

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

Having a large number of these kinds of assets suggests a credit union may have to use capital to absorb losses, diminishing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and elevating the risk of a failure in the future.

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

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. Earnings may be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, potentially making the credit union more resilient in tough times. Losses, on the other hand, reduce a credit union's ability to do those things.

GREAT MEADOW underperformed the average on Bankrate's earnings test, achieving a score of 8 out of a possible 30.

One sign that GREAT MEADOW 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.