Safe and Sound

MID-ILLINI

BLOOMINGTON, IL
3
Star Rating
BLOOMINGTON, IL-based MID-ILLINI is an NCUA-insured credit union started in 1940. The credit union holds $56.8 million in assets, according to December 31, 2017, regulatory filings.

With 25 full-time employees, the credit union currently holds loans and leases worth $54.1 million. MID-ILLINI's 8,224 members currently have $52.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MID-ILLINI exhibited a generally satisfactory condition, earning 3 out of 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 American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and as protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an an institution's financial resilience, capital is essential. When looking at safety and soundness, more capital is preferred.

MID-ILLINI received a score of 6 out of a possible 30 points on our test to measure capital adequacy, lower than the national average of 15.65.

MID-ILLINI had a capitalization ratio of 6.00 percent in our test, worse than the average for all credit unions, an indication that it's less well prepared for financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to determine the effect of problem assets, such as past-due mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having extensive holdings of these kinds of assets may eventually force a credit union to use capital to absorb losses, cutting down on its equity buffer. 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 failure in the future.

On Bankrate's asset quality test, MID-ILLINI scored 32 out of a possible 40 points, below the national average of 38.09 points.

A lower-than-average ratio of problem assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, likely making the credit union better prepared to withstand economic shocks. Losses, on the other hand, lessen a credit union's ability to do those things.

MID-ILLINI scored 8 out of a possible 30 on Bankrate's earnings test, coming in below the national average of 10.11.

One sign that the credit union is outperforming 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.