Asset Quality Score
Bankrate uses this test to estimate the effect of troubled assets, such as unpaid mortgages, on the credit union's capitalization and allocated loan loss reserves.
A credit union with a large number of these types of assets may eventually be forced to use capital to absorb losses, decreasing its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.
On Bankrate's test of asset quality, MORRISONS COVE 1ST scored 40 out of a possible 40 points, beating out the national average of 38.09 points.
The credit union's ratio of troubled assets was 0.00 percent in our test, less than the national average and potentially indicative of greater financial strength than other credit unions.