Safe and Sound

JACKSON COUNTY CO-OP

SEYMOUR, IN
5
Star Rating
JACKSON COUNTY CO-OP is a SEYMOUR, IN-based, NCUA-insured credit union dating back to 1955. As of December 31, 2017, the credit union had assets of $23.5 million.

Thanks to the work of 7 full-time employees, the credit union holds loans and leases worth $18.5 million. JACKSON COUNTY CO-OP's 1,093 members currently have $19.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, JACKSON COUNTY CO-OP exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a look at how the credit union did on the three key criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

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 when a credit union is struggling financially. Therefore, when it comes to measuring an an institution's financial resilience, capital is useful. When it comes to safety and soundness, the more capital, the better.

JACKSON COUNTY CO-OP beat out the national average of 15.65 points on our test to measure capital adequacy, achieving a score of 22 out of a possible 30 points.

JACKSON COUNTY CO-OP's capitalization ratio of 22.00 percent in our test was better than the average for all credit unions, an indication that it's stronger than its peers.

Asset Quality Score

In this test, Bankrate tries to determine the effect of troubled assets, such as past-due mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having large numbers of these kinds of assets means a credit union could 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, resulting in diminished earnings and potentially more risk of a future failure.

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

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. A credit union can retain its earnings, boosting 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, reduce a credit union's ability to do those things.

JACKSON COUNTY CO-OP fell behind the national average on Bankrate's test of earnings, achieving a score of 8 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, an indication 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.