Safe and Sound

MASON COUNTY SCHOOL EMPLOYEES

LUDINGTON, MI
5
Star Rating
LUDINGTON, MI-based MASON COUNTY SCHOOL EMPLOYEES is an NCUA-insured credit union started in 1962. Regulatory filings show the credit union having assets of $6.1 million, as of December 31, 2017.

The credit union holds loans and leases worth $2.0 million. Its 678 members currently have $5.0 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MASON COUNTY SCHOOL EMPLOYEES exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three key 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

When it comes to measuring a credit union's financial stability, capital is key. It acts as a buffer against losses and affords protection for members when a credit union is experiencing financial trouble. From a safety and soundness perspective, more capital is preferred.

MASON COUNTY SCHOOL EMPLOYEES scored 28 out of a possible 30 points on our test to measure capital adequacy, beating the national average of 15.65.

MASON COUNTY SCHOOL EMPLOYEES appears to be stronger than its peers, with a capitalization ratio of 28.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

This test's purpose is to estimate how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as past-due loans.

A credit union with lots of these types of assets could eventually be required to use capital to cover losses, decreasing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, reducing earnings and elevating the risk of a failure in the future.

MASON COUNTY SCHOOL EMPLOYEES did better than 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, below the national average and suggestive of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. Earnings may be retained by the credit union, giving a boost to its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand financial trouble. Losses, on the other hand, reduce a credit union's ability to do those things.

MASON COUNTY SCHOOL EMPLOYEES scored 8 out of a possible 30 on Bankrate's earnings test, lower than the national average of 10.11.

MASON COUNTY SCHOOL EMPLOYEES had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's doing better than 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.