Safe and Sound

GREATER NEVADA

CARSON CITY, NV
5
Star Rating
GREATER NEVADA is an NCUA-insured credit union founded in 1949 and currently based in CARSON CITY, NV. As of December 31, 2017, the credit union held assets of $875.4 million.

Members have $569.0 million on deposit tended by 257 full-time employees. With that footprint, the credit union currently holds loans and leases worth $569.0 million. Its 64,709 members currently have $748.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GREATER NEVADA exhibited a superior condition, earning a full 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 score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and provides protection for members during times of financial instability for the credit union. Therefore, a credit union's level of capital is an essential measurement of its financial fortitude. From a safety and soundness perspective, the higher the capital, the better.

GREATER NEVADA received a score of 10 out of a possible 30 points on our test to measure capital adequacy, falling short of the national average of 15.65.

GREATER NEVADA had a capitalization ratio of 10.00 percent in our test, lower than the average for all credit unions, suggesting that it's on less solid financial footing than its peers.

Asset Quality Score

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

Having a large number of these types of assets means a credit union could have to use capital to cover losses, shrinking its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, resulting in diminished earnings and potentially more risk of a failure in the future.

GREATER NEVADA scored 36 out of a possible 40 points on Bankrate's asset quality test, less than the national average of 38.09.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or use them to deal with problematic loans, potentially making the credit union more resilient in times of trouble. However, credit unions that are losing money are less able to do those things.

GREATER NEVADA scored 24 out of a possible 30 on Bankrate's test of earnings, better than the national average of 10.11.

One indication that the credit union is running ahead of 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.