Safe and Sound

NEW ORLEANS CLERK & CHECKERS

METAIRIE, LA
4
Star Rating
NEW ORLEANS CLERK & CHECKERS is a METAIRIE, LA-based, NCUA-insured credit union dating back to 1955. As of December 31, 2017, the credit union held assets of $9.9 million.

With 2 full-time employees, the credit union currently holds loans and leases worth $5.2 million. NEW ORLEANS CLERK & CHECKERS's 1,153 members currently have $8.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, NEW ORLEANS CLERK & CHECKERS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union did on the three major criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of a credit union's financial fortitude. It acts as a bulwark against losses and as protection for members during times of financial instability for the credit union. When it comes to safety and soundness, more capital is preferred.

NEW ORLEANS CLERK & CHECKERS beat out the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, scoring 20 out of a possible 30 points.

NEW ORLEANS CLERK & CHECKERS's capitalization ratio of 20.00 percent in our test was above the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

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

Having a large number of these types of assets suggests a credit union could eventually have to use capital to absorb losses, shrinking its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, pushing down earnings and elevating the risk of a future failure.

On Bankrate's test of asset quality, NEW ORLEANS CLERK & CHECKERS scored 36 out of a possible 40 points, less than the national average of 38.09 points.

A below-average ratio of problem assets of 0.00 percent in our test was 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, expanding its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. Losses, on the other hand, lessen a credit union's ability to do those things.

NEW ORLEANS CLERK & CHECKERS scored 2 out of a possible 30 on Bankrate's earnings test, less than the national average of 10.11.

NEW ORLEANS CLERK & CHECKERS had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's outperforming 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.