Safe and Sound

MISSION

SAN DIEGO, CA
5
Star Rating
SAN DIEGO, CA-based MISSION is an NCUA-insured credit union founded in 1961. Regulatory filings show the credit union having assets of $3.38 billion, as of December 31, 2017.

With 530 full-time employees, the credit union has amassed loans and leases worth $2.41 billion. Its 222,626 members currently have $2.88 billion in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MISSION exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three important criteria Bankrate used to evaluate American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial strength, capital is useful. It acts as a bulwark against losses and as protection for members when a credit union is struggling financially. When looking at safety and soundness, the more capital, the better.

MISSION scored 16 out of a possible 30 points on our test to measure capital adequacy, exceeding the national average of 15.65.

MISSION's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

A credit union with extensive holdings of these types of assets may eventually have to use capital to cover losses, cutting down on its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a future failure.

MISSION scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and potentially indicative of greater financial strength than 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, boosting its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. However, credit unions that are losing money have less ability to do those things.

MISSION received above-average marks on Bankrate's earnings test, achieving a score of 18 out of a possible 30.

MISSION had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, an indication 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.