Safe and Sound

MACON FIREMEN'S

MACON, GA
5
Star Rating
MACON, GA-based MACON FIREMEN'S is an NCUA-insured credit union started in 1942. Regulatory filings show the credit union having $4.9 million in assets, as of December 31, 2017.

Thanks to the efforts of 2 full-time employees, the credit union holds loans and leases worth $2.7 million. MACON FIREMEN'S's 748 members currently have $3.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MACON FIREMEN'S exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three important criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and affords protection for members when a credit union is experiencing financial trouble. Therefore, when it comes to measuring an an institution's financial resilience, capital is useful. When looking at safety and soundness, the more capital, the better.

MACON FIREMEN'S achieved a score of 30 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, above the national average of 15.65.

MACON FIREMEN'S appears to be more resilient than its peers, with a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of troubled assets, such as unpaid loans, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with lots of these types of assets could eventually have to use capital to absorb losses, reducing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a future failure.

MACON FIREMEN'S beat out the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. Earnings may be retained by the credit union, boosting its capital buffer, or be used to address problematic loans, likely making the credit union better prepared to withstand economic trouble. Conversely, losses take away from a credit union's ability to do those things.

MACON FIREMEN'S fell short of the national average on Bankrate's earnings test, achieving a score of 8 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting 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.