Asset Quality Score
In this test, Bankrate tries to estimate the impact of troubled assets, such as unpaid loans, 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 absorb losses, decreasing its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in reduced earnings and potentially more risk of a failure in the future.
LOCAL 50 PLUMBERS & STEAMFTRS scored 40 out of a possible 40 points on Bankrate's asset quality test, exceeding the national average of 38.09.
Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and potentially indicative of superior financial strength compared to other credit unions.