Safe and Sound

HARRISON COUNTY

Nutter Fort, WV
4
Star Rating
Founded in 1967, HARRISON COUNTY is an NCUA-insured credit union based in Nutter Fort, WV. The credit union has assets of $13.8 million, according to December 31, 2017, regulatory filings.

Members have $4.1 million on deposit tended by 3 full-time employees. With that footprint, the credit union currently holds loans and leases worth $4.1 million. HARRISON COUNTY's 2,173 members currently have $11.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, HARRISON COUNTY exhibited a good condition, earning 4 out of 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 American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and provides protection for members during periods of financial instability for the credit union. It follows then that a credit union's level of capital is a useful measurement of its financial fortitude. When looking at safety and soundness, the more capital, the better.

On our test to measure the adequacy of a credit union's capital, HARRISON COUNTY achieved a score of 24 out of a possible 30 points, beating out the national average of 15.65.

HARRISON COUNTY's capitalization ratio of 24.00 percent in our test was above the average for all credit unions, suggesting 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 past-due loans.

Having a large number of these types of assets could eventually force a credit union to use capital to cover losses, decreasing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in reduced earnings and potentially more risk of a failure in the future.

HARRISON COUNTY scored 40 out of a possible 40 points on Bankrate's test of asset quality, better than the national average of 38.09.

HARRISON COUNTY's ratio of problem assets was 0.00 percent in our test, below the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's profitability affects its long-term survivability. A credit union can retain its earnings, expanding its capital buffer, or use them to address problematic loans, potentially making the credit union more resilient in tough times. Losses, on the other hand, diminish a credit union's ability to do those things.

On Bankrate's test of earnings, HARRISON COUNTY scored 0 out of a possible 30, coming in below the national average of 10.11.

HARRISON COUNTY had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's doing better than 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.