Safe and Sound

GREENVILLE

Greenville, SC
5
Star Rating
Started in 1968, GREENVILLE is an NCUA-insured credit union based in Greenville, SC. As of December 31, 2017, the credit union had assets of $224.4 million.

With 53 full-time employees, the credit union holds loans and leases worth $158.0 million. GREENVILLE's 28,093 members currently have $198.5 million in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of a credit union's financial fortitude. It works as a cushion against losses and provides protection for members when a credit union is struggling financially. From a safety and soundness perspective, the more capital, the better.

On our test to measure the adequacy of a credit union's capital, GREENVILLE received a score of 14 out of a possible 30 points, below the national average of 15.65.

GREENVILLE appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 14.00 percent in our test, below the average for all credit unions.

Asset Quality Score

This test is intended to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as unpaid mortgages.

A credit union with extensive holdings of these kinds of assets could eventually be forced to use capital to absorb losses, diminishing its buffer of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in reduced earnings and potentially more risk of a future failure.

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

Troubled assets made up 0.00 percent of the credit union's total assets in our test, below the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance affects its long-term survivability. A credit union can retain its earnings, giving a boost to its capital cushion, or use them to deal with problematic loans, potentially making the credit union more resilient in tough times. Conversely, losses reduce a credit union's ability to do those things.

GREENVILLE received above-average marks on Bankrate's earnings test, achieving a score of 18 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting 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.