Safe and Sound

IMMACULATE HEART OF MARY

Lafayette, LA
4
Star Rating
Founded in 1942, IMMACULATE HEART OF MARY is an NCUA-insured credit union based in Lafayette, LA. Regulatory filings show the credit union having $846,628 in assets, as of December 31, 2017.

The credit union holds loans and leases worth $191,011. Its 372 members currently have $634,483 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, IMMACULATE HEART OF MARY exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial strength, capital is important. It works as a cushion against losses and as protection for members when a credit union is struggling financially. From a safety and soundness perspective, more capital is better.

IMMACULATE HEART OF MARY scored 30 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, beating the national average of 15.65.

IMMACULATE HEART OF MARY had a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions, a sign that it's more well prepared for financial trouble than its peers.

Asset Quality Score

Bankrate uses this test to determine the impact of problem assets, such as unpaid loans, on the credit union's loan loss reserves and overall capitalization.

A credit union with large numbers of these types of assets could eventually be required to use capital to absorb losses, reducing its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.

IMMACULATE HEART OF MARY scored 40 out of a possible 40 points on Bankrate's asset quality test, beating the national average of 38.09.

The credit union's ratio of troubled 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

How successful a credit union is at making money has an effect on its long-term survivability. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, lessen a credit union's ability to do those things.

IMMACULATE HEART OF MARY fell short of the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

One indication that the credit union is running ahead of 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.