Safe and Sound

JAX GLIDCO EMPLOYEES

JACKSONVILLE, FL
3
Star Rating
JAX GLIDCO EMPLOYEES is an NCUA-insured credit union started in 1960 and currently headquartered in JACKSONVILLE, FL. As of June 30, 2017, the credit union had assets of $960,609.

The credit union holds loans and leases worth $0. Its 183 members currently have $862,399 in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, JAX GLIDCO EMPLOYEES exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three major criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and affords protection for members when a credit union is struggling financially. Therefore, an institution's level of capital is a valuable measurement of its financial strength. When it comes to safety and soundness, the more capital, the better.

JAX GLIDCO EMPLOYEES came in below the national average of 15.26 on our test to measure the adequacy of a credit union's capital, receiving a score of 12 out of a possible 30 points.

JAX GLIDCO EMPLOYEES's capitalization ratio of 10.00 percent in our test was less than the average for all credit unions, suggesting that it could be less resilient in a crisis 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 large numbers of these types of assets suggests a credit union may eventually have to use capital to absorb losses, shrinking its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, reducing earnings and elevating the chances of a failure in the future.

JAX GLIDCO EMPLOYEES exceeded the national average of 38.15 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. Earnings can be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, potentially making the credit union better able to withstand financial shocks. Credit unions that are losing money, however, are less able to do those things.

JAX GLIDCO EMPLOYEES did below-average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

JAX GLIDCO EMPLOYEES had an earnings ratio of -68.00 percent in our test, lower than the average for all credit unions, a sign that it's underperforming 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.