Safe and Sound

GREATER PITTSBURGH POLICE

PITTSBURGH, PA
5
Star Rating
PITTSBURGH, PA-based GREATER PITTSBURGH POLICE is an NCUA-insured credit union founded in 1935. The credit union has assets of $70.1 million, according to December 31, 2017, regulatory filings.

Thanks to the work of 11 full-time employees, the credit union currently holds loans and leases worth $37.7 million. Its 6,040 members currently have $58.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GREATER PITTSBURGH POLICE exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a look at how the credit union faired on the three key criteria Bankrate used to score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is an essential measurement of an institution's financial resilience. It works as a cushion against losses and as protection for members when a credit union is experiencing financial trouble. When it comes to safety and soundness, the higher the capital, the better.

On our test to measure the adequacy of a credit union's capital, GREATER PITTSBURGH POLICE racked up 22 out of a possible 30 points, beating the national average of 15.65.

GREATER PITTSBURGH POLICE had a capitalization ratio of 22.00 percent in our test, above the average for all credit unions, suggesting that it's more well prepared for financial trouble than its peers.

Asset Quality Score

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

A credit union with a large number of these types of assets may eventually be forced to use capital to absorb losses, cutting down on its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, diminishing earnings and increasing the risk of a future failure.

GREATER PITTSBURGH POLICE scored above the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

GREATER PITTSBURGH POLICE's ratio of troubled assets was 0.00 percent in our test, less than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. Earnings may be retained by the credit union, boosting its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. Obviously, credit unions that are losing money have less ability to do those things.

GREATER PITTSBURGH POLICE outperformed the average on Bankrate's earnings test, achieving a score of 12 out of a possible 30.

One indication that the credit union is beating 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.