Safe and Sound

LIVING IN FULFILLMENT EVERYDAY

DENTON, TX
2
Star Rating
Founded in 1973, LIVING IN FULFILLMENT EVERYDAY is an NCUA-insured credit union based in DENTON, TX. Regulatory filings show the credit union having assets of $22.8 million, as of December 31, 2017.

Members have $20.5 million on deposit tended by 8 full-time employees. With that footprint, the credit union has amassed loans and leases worth $20.5 million. Its 1,870 members currently have $16.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, LIVING IN FULFILLMENT EVERYDAY exhibited a below-average condition, earning 2 out of 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 score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and affords protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an an institution's financial resilience, capital is valuable. From a safety and soundness perspective, more capital is better.

LIVING IN FULFILLMENT EVERYDAY received a score of 10 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, coming in below the national average of 15.65.

LIVING IN FULFILLMENT EVERYDAY appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 10.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of problem assets, such as past-due loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having extensive holdings of these types of assets suggests a credit union may eventually have to use capital to cover losses, diminishing its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, reducing earnings and elevating the risk of a future failure.

On Bankrate's test of asset quality, LIVING IN FULFILLMENT EVERYDAY scored 40 out of a possible 40 points, beating the national average of 38.09 points.

The credit union's ratio of problem assets was 0.00 percent in our test, lower than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its long-term survivability. A credit union can retain its earnings, boosting its capital cushion, or use them to deal with problematic loans, likely making the credit union better able to withstand economic shocks. However, credit unions that are losing money are less able to do those things.

On Bankrate's earnings test, LIVING IN FULFILLMENT EVERYDAY scored 0 out of a possible 30, coming in below the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication that it's beating 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.