Safe and Sound

JETSTREAM

MIAMI LAKES, FL
4
Star Rating
JETSTREAM is a MIAMI LAKES, FL-based, NCUA-insured credit union dating back to 1948. Regulatory filings show the credit union having assets of $197.1 million, as of December 31, 2017.

With 62 full-time employees, the credit union has amassed loans and leases worth $150.1 million. Its 20,537 members currently have $170.0 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, JETSTREAM 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 important criteria Bankrate used to evaluate American credit unions.

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 during times of economic trouble for the credit union. It follows then that an institution's level of capital is an essential measurement of its financial strength. When looking at safety and soundness, the higher the capital, the better.

JETSTREAM achieved a score of 16 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, better than the national average of 15.65.

JETSTREAM'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's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as unpaid mortgages.

A credit union with large numbers of these types of assets could eventually be required to use capital to cover losses, cutting down on its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, resulting in diminished earnings and potentially more risk of a failure in the future.

JETSTREAM came in below the national average of 38.09 on Bankrate's asset quality test, racking up 36 out of a possible 40 points .

A lower-than-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 long-term survivability. Earnings may be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, likely making the credit union better able to withstand economic trouble. Losses, on the other hand, reduce a credit union's ability to do those things.

On Bankrate's test of earnings, JETSTREAM scored 16 out of a possible 30, better than the national average of 10.11.

One indication that JETSTREAM is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, higher than 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.