Asset Quality Score
This test is intended to try to understand how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by troubled assets, such as past-due loans.
A credit union with lots of these types of assets may eventually have to use capital to cover losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, decreasing earnings and increasing the risk of a failure in the future.
NEW PILGRIM scored 40 out of a possible 40 points on Bankrate's asset quality test, above the national average of 38.09.
Troubled assets made up 0.00 percent of NEW PILGRIM's total assets in our test, beneath the national average and potentially indicative of superior financial strength compared to other credit unions.