Asset Quality Score
In this test, Bankrate tries to estimate the effect of problem assets, such as past-due mortgages, on the credit union's loan loss reserves and overall capitalization.
A credit union with lots of these kinds of assets may eventually be required to use capital to cover losses, diminishing its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, diminishing earnings and increasing the risk of a future failure.
LAKE ERIE COMMUNITY scored 36 out of a possible 40 points on Bankrate's asset quality test, coming in below the national average of 38.09.
Troubled assets made up 0.00 percent of LAKE ERIE COMMUNITY's total assets in our test, less than the national average and suggestive of greater financial strength than other credit unions.