Safe and Sound

GREATER CHRIST BAPTIST CHURCH

DETROIT, MI
3
Star Rating
GREATER CHRIST BAPTIST CHURCH is an NCUA-insured credit union founded in 1957 and currently headquartered in DETROIT, MI. The credit union holds $607,054 in assets, according to December 31, 2017, regulatory filings.

The credit union has amassed loans and leases worth $197,886. Its 393 members currently have $469,912 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GREATER CHRIST BAPTIST CHURCH exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three major criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members during periods of economic trouble for the credit union. It follows then that an institution's level of capital is an important measurement of its financial fortitude. From a safety and soundness perspective, the more capital, the better.

On our test to measure capital adequacy, GREATER CHRIST BAPTIST CHURCH racked up 30 out of a possible 30 points, exceeding the national average of 15.65.

GREATER CHRIST BAPTIST CHURCH appears to be on more solid financial footing than its peers, with a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the impact of problem assets, such as unpaid loans, on the credit union's capitalization and allocated loan loss reserves.

Having lots of these types of assets could eventually require a credit union to use capital to absorb losses, diminishing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a failure in the future.

GREATER CHRIST BAPTIST CHURCH scored 36 out of a possible 40 points on Bankrate's test of asset quality, coming in below the national average of 38.09.

A lower-than-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

How successful a credit union is at earning money affects its long-term survivability. A credit union can retain its earnings, increasing its capital buffer, or use them to deal with problematic loans, likely making the credit union better prepared to withstand economic shocks. Losses, on the other hand, reduce a credit union's ability to do those things.

GREATER CHRIST BAPTIST CHURCH fell short of the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

GREATER CHRIST BAPTIST CHURCH had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication that it's outperforming 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.