Safe and Sound

GREATER WATERBURY HEALTHCARE

WATERBURY, CT
5
Star Rating
GREATER WATERBURY HEALTHCARE is a WATERBURY, CT-based, NCUA-insured credit union founded in 1956. Regulatory filings show the credit union having assets of $11.8 million, as of December 31, 2017.

GREATER WATERBURY HEALTHCARE's 1,258 members currently have $9.6 million in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $2.8 million.

Overall, Bankrate believes that, as of December 31, 2017, GREATER WATERBURY HEALTHCARE exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and affords protection for members when a credit union is experiencing economic trouble. Therefore, an institution's level of capital is an important measurement of its financial resilience. When it comes to safety and soundness, the more capital, the better.

GREATER WATERBURY HEALTHCARE did better than the national average of 15.65 points on our test to measure capital adequacy, scoring 28 out of a possible 30 points.

GREATER WATERBURY HEALTHCARE had a capitalization ratio of 28.00 percent in our test, better than 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 reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as unpaid mortgages.

Having large numbers of these kinds of assets means a credit union could eventually have to use capital to cover losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, resulting in reduced earnings and potentially more risk of a failure in the future.

GREATER WATERBURY HEALTHCARE did better than the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

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

Earnings score

A credit union's profitability has an effect on its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or use them to address problematic loans, likely making the credit union better prepared to withstand economic shocks. Conversely, losses reduce a credit union's ability to do those things.

On Bankrate's test of earnings, GREATER WATERBURY HEALTHCARE scored 4 out of a possible 30, less than the national average of 10.11.

One sign that GREATER WATERBURY HEALTHCARE 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.