Safe and Sound

MARINE

JACKSONVILLE, NC
3
Star Rating
MARINE is a JACKSONVILLE, NC-based, NCUA-insured credit union dating back to 1959. As of December 31, 2017, the credit union had assets of $717.4 million.

Members have $487.1 million on deposit tended by 229 full-time employees. With that footprint, the credit union holds loans and leases worth $487.1 million. MARINE's 89,522 members currently have $644.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MARINE exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three major criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial resilience, capital is key. It acts as a buffer against losses and provides protection for members when a credit union is experiencing financial instability. When looking at safety and soundness, more capital is better.

MARINE fell below the national average of 15.65 on our test to measure the adequacy of a credit union's capital, achieving a score of 8 out of a possible 30 points.

MARINE's capitalization ratio of 8.00 percent in our test was less than the average for all credit unions, suggesting that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

This test is intended to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as unpaid mortgages.

A credit union with large numbers of these types of assets could eventually have 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 thus aren't earning interest for the credit union, pushing down earnings and increasing the chances of a failure in the future.

MARINE came in below the national average of 38.09 on Bankrate's asset quality test, racking up 36 out of a possible 40 points .

Troubled assets made up 0.00 percent of MARINE's total assets in our test, below 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 has an effect on its long-term survivability. Earnings can be retained by the credit union, increasing its capital buffer, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses lessen a credit union's ability to do those things.

MARINE fell short of the national average on Bankrate's earnings test, achieving a score of 6 out of a possible 30.

One sign that MARINE is beating its peers in this area was its earnings ratio of 0.00 percent in our test, higher than the average for all credit unions.

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.