Safe and Sound

HEALTH FACILITIES

FLORENCE, SC
5
Star Rating
HEALTH FACILITIES is an NCUA-insured credit union started in 1977 and currently headquartered in FLORENCE, SC. Regulatory filings show the credit union having $29.4 million in assets, as of December 31, 2017.

Members have $12.5 million on deposit tended by 14 full-time employees. With that footprint, the credit union has amassed loans and leases worth $12.5 million. Its 8,606 members currently have $25.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, HEALTH FACILITIES 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 major criteria Bankrate used to score American credit unions on safety and soundness.

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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 essential. It works as a bulwark against losses and provides protection for members when a credit union is experiencing financial instability. When looking at safety and soundness, more capital is preferred.

HEALTH FACILITIES scored above the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 16 out of a possible 30 points.

HEALTH FACILITIES's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

This test is intended to try to understand 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 lots of these types of assets means a credit union could eventually have to use capital to cover losses, shrinking 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 money, diminishing earnings and increasing the risk of a failure in the future.

HEALTH FACILITIES did better than 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 greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. Earnings may be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses take away from a credit union's ability to do those things.

On Bankrate's test of earnings, HEALTH FACILITIES scored 18 out of a possible 30, beating the national average of 10.11.

HEALTH FACILITIES had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's beating 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.