Safe and Sound

GREATER HARTFORD POLICE

Hartford, CT
4
Star Rating
GREATER HARTFORD POLICE is a Hartford, CT-based, NCUA-insured credit union that opened its doors in 1950. Regulatory filings show the credit union having assets of $22.8 million, as of December 31, 2017.

Thanks to the efforts of 5 full-time employees, the credit union currently holds loans and leases worth $12.7 million. GREATER HARTFORD POLICE's 1,920 members currently have $20.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GREATER HARTFORD POLICE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of a credit union's financial resilience. It works as a cushion against losses and affords protection for members during periods of financial instability for the credit union. When it comes to safety and soundness, the higher the capital, the better.

GREATER HARTFORD POLICE finished below the national average of 15.65 on our test to measure capital adequacy, achieving a score of 8 out of a possible 30 points.

GREATER HARTFORD POLICE appears to be weaker than its peers in this area, with a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions.

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 extensive holdings of these kinds of assets could eventually be forced to use capital to absorb losses, decreasing its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in reduced earnings and potentially more risk of a failure in the future.

GREATER HARTFORD POLICE scored 40 out of a possible 40 points on Bankrate's test of asset quality, exceeding the national average of 38.09.

A below-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 making money affects its safety and soundness. Earnings may be retained by the credit union, expanding its capital buffer, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand economic trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

GREATER HARTFORD POLICE scored 18 out of a possible 30 on Bankrate's test of earnings, above the national average of 10.11.

One sign that GREATER HARTFORD POLICE is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, higher 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.