Safe and Sound

MY PENSACOLA

PENSACOLA, FL
5
Star Rating
Started in 1953, MY PENSACOLA is an NCUA-insured credit union headquartered in PENSACOLA, FL. As of December 31, 2017, the credit union held assets of $66.3 million.

Members have $22.7 million on deposit tended by 16 full-time employees. With that footprint, the credit union holds loans and leases worth $22.7 million. Its 5,011 members currently have $53.8 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, MY PENSACOLA exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three major criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial stability, capital is essential. It acts as a cushion against losses and affords protection for members when a credit union is experiencing financial trouble. When it comes to safety and soundness, the higher the capital, the better.

MY PENSACOLA beat out the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 26 out of a possible 30 points.

MY PENSACOLA had a capitalization ratio of 26.00 percent in our test, better than the average for all credit unions, suggesting that it could be more resilient in a crisis than its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as past-due loans.

A credit union with lots of these kinds of assets may eventually be forced to use capital to absorb losses, cutting down on its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning money, decreasing earnings and increasing the chances of a future failure.

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

MY PENSACOLA's ratio of problem assets was 0.00 percent in our test, beneath the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. A credit union can retain its earnings, increasing its capital buffer, or use them to address 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.

On Bankrate's earnings test, MY PENSACOLA scored 8 out of a possible 30, less than the national average of 10.11.

MY PENSACOLA 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.