Safe and Sound

MILLARD COUNTY

FILLMORE, UT
4
Star Rating
MILLARD COUNTY is a FILLMORE, UT-based, NCUA-insured credit union that opened its doors in 1956. The credit union holds assets of $35.0 million, according to December 31, 2017, regulatory filings.

Thanks to the work of 11 full-time employees, the credit union holds loans and leases worth $19.7 million. MILLARD COUNTY's 5,458 members currently have $31.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MILLARD COUNTY exhibited a good condition, earning 4 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 score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and affords protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an a credit union's financial strength, capital is important. When it comes to safety and soundness, the more capital, the better.

MILLARD COUNTY received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, below the national average of 15.65.

MILLARD COUNTY's capitalization ratio of 12.00 percent in our test was lower than the average for all credit unions, suggesting that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

Bankrate uses this test to determine the effect of troubled assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

Having extensive holdings of these kinds of assets suggests a credit union could have to use capital to cover losses, decreasing 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, decreasing earnings and increasing the chances of a future failure.

On Bankrate's asset quality test, MILLARD COUNTY scored 40 out of a possible 40 points, above the national average of 38.09 points.

Troubled assets made up 0.00 percent of MILLARD COUNTY's total assets in our test, lower than the national average and potentially indicative 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 safety and soundness. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in tough times. Credit unions that are losing money, however, are less able to do those things.

MILLARD COUNTY exceeded the national average on Bankrate's earnings test, achieving a score of 14 out of a possible 30.

One indication that MILLARD COUNTY is beating 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.