Safe and Sound

MID-KANSAS

Moundridge, KS
3
Star Rating
MID-KANSAS is an NCUA-insured credit union started in 1972 and currently headquartered in Moundridge, KS. The credit union holds $53.9 million in assets, according to December 31, 2017, regulatory filings.

With 16 full-time employees, the credit union has amassed loans and leases worth $21.3 million. Its 4,185 members currently have $48.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MID-KANSAS 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 key criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial fortitude. It works as a buffer against losses and as protection for members when a credit union is struggling financially. From a safety and soundness perspective, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, MID-KANSAS received a score of 10 out of a possible 30 points, below the national average of 15.65.

MID-KANSAS appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 10.00 percent in our test, below the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to determine the impact of troubled assets, such as unpaid mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having extensive holdings of these kinds of assets suggests a credit union could have to use capital to absorb losses, cutting down on its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in reduced earnings and potentially more risk of a future failure.

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

Troubled assets made up 0.00 percent of the credit union's total assets in our test, below the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money affects its long-term survivability. Earnings may be retained by the credit union, expanding its capital cushion, or be used to deal with problematic loans, likely making the credit union more resilient in times of trouble. Obviously, credit unions that are losing money are less able to do those things.

MID-KANSAS did below-average on Bankrate's earnings test, achieving a score of 2 out of a possible 30.

One indication that the credit union is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.