Asset Quality Score
This test is intended to try to understand how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.
Having lots of these types of assets may eventually require a credit union to use capital to absorb losses, diminishing 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, resulting in diminished earnings and potentially more risk of a future failure.
On Bankrate's test of asset quality, LEGACY scored 40 out of a possible 40 points, better than the national average of 38.09 points.
Troubled assets made up 0.00 percent of the credit union's total assets in our test, below the national average and potentially indicative of superior financial strength compared to other credit unions.