Safe and Sound

GRIFFITH INSTITUTE EMPLOYEES

SPRINGVILLE, NY
5
Star Rating
GRIFFITH INSTITUTE EMPLOYEES is an NCUA-insured credit union founded in 1961 and currently headquartered in SPRINGVILLE, NY. As of December 31, 2017, the credit union held assets of $3.8 million.

GRIFFITH INSTITUTE EMPLOYEES's 543 members currently have $3.3 million in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $1.5 million.

Overall, Bankrate believes that, as of December 31, 2017, GRIFFITH INSTITUTE EMPLOYEES 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 grade American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial resilience, capital is crucial. It acts as a bulwark against losses and as protection for members during times of economic trouble for the credit union. From a safety and soundness perspective, the more capital, the better.

GRIFFITH INSTITUTE EMPLOYEES fell short of the national average of 15.65 on our test to measure the adequacy of a credit union's capital, scoring 14 out of a possible 30 points.

GRIFFITH INSTITUTE EMPLOYEES 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

Bankrate uses this test to estimate the effect of troubled assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

A credit union with lots of these types of assets could eventually have to use capital to cover losses, cutting down on its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in diminished earnings and potentially more risk of a future failure.

GRIFFITH INSTITUTE EMPLOYEES exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

A below-average ratio of troubled 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 long-term survivability. Earnings can be retained by the credit union, giving a boost to its capital buffer, or be used to deal with problematic loans, potentially making the credit union better able to withstand financial shocks. Losses, on the other hand, lessen a credit union's ability to do those things.

GRIFFITH INSTITUTE EMPLOYEES scored 16 out of a possible 30 on Bankrate's test of earnings, beating out the national average of 10.11.

One indication that GRIFFITH INSTITUTE EMPLOYEES is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.