Safe and Sound

HIGH STREET BAPTIST CHURCH

Roanoke, VA
4
Star Rating
Roanoke, VA-based HIGH STREET BAPTIST CHURCH is an NCUA-insured credit union founded in 1957. The credit union has assets of $2.0 million, according to December 31, 2017, regulatory filings.

HIGH STREET BAPTIST CHURCH's 305 members currently have $1.8 million in shares with the credit union. With that footprint, the credit union holds loans and leases worth $580,560.

Overall, Bankrate believes that, as of December 31, 2017, HIGH STREET BAPTIST CHURCH 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 key criteria Bankrate used to score American credit unions.

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 fortitude, capital is essential. It works as a cushion against losses and provides protection for members during times of economic trouble for the credit union. When it comes to safety and soundness, the higher the capital, the better.

HIGH STREET BAPTIST CHURCH received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, lower than the national average of 15.65.

HIGH STREET BAPTIST CHURCH had a capitalization ratio of 12.00 percent in our test, worse than the average for all credit unions, a sign that it's less well prepared for financial trouble than its peers.

Asset Quality Score

This test's purpose is 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 troubled assets, such as past-due loans.

Having extensive holdings of these types of assets means a credit union may eventually have to use capital to cover losses, shrinking its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, reducing earnings and elevating the risk of a future failure.

On Bankrate's asset quality test, HIGH STREET BAPTIST CHURCH scored 40 out of a possible 40 points, beating out the national average of 38.09 points.

Earnings score

A credit union's ability to earn money affects its safety and soundness. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, likely making the credit union better prepared to withstand financial shocks. Credit unions that are losing money, however, are less able to do those things.

On Bankrate's test of earnings, HIGH STREET BAPTIST CHURCH scored 10 out of a possible 30, below the national average of 10.11.

HIGH STREET BAPTIST CHURCH had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication 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.