Safe and Sound

GULF COAST COMMUNITY

GULFPORT, MS
5
Star Rating
GULF COAST COMMUNITY is a GULFPORT, MS-based, NCUA-insured credit union that opened its doors in 1935. As of December 31, 2017, the credit union had assets of $106.3 million.

Members have $74.1 million on deposit tended by 67 full-time employees. With that footprint, the credit union holds loans and leases worth $74.1 million. Its 13,203 members currently have $78.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, GULF COAST COMMUNITY exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three important criteria Bankrate used to grade U.S. credit unions on safety and soundness.

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THE INSTITUTION'S SCORE

Capital Score

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

GULF COAST COMMUNITY scored above the national average of 15.65 points on our test to measure capital adequacy, scoring 24 out of a possible 30 points.

GULF COAST COMMUNITY's capitalization ratio of 24.00 percent in our test was higher than the average for all credit unions, an indication that it's on more solid financial footing 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 problem assets, such as unpaid loans.

Having lots of these types of assets suggests a credit union could eventually have 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 no longer earning money, resulting in diminished earnings and potentially more risk of a failure in the future.

GULF COAST COMMUNITY scored 36 out of a possible 40 points on Bankrate's asset quality test, falling short of the national average of 38.09.

A lower-than-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. A credit union can retain its earnings, giving a boost to its capital cushion, or use them to address problematic loans, likely making the credit union better able to withstand economic trouble. Losses, on the other hand, reduce a credit union's ability to do those things.

On Bankrate's test of earnings, GULF COAST COMMUNITY scored 14 out of a possible 30, above the national average of 10.11.

GULF COAST COMMUNITY had an earnings ratio of 0.00 percent in our test, better 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.