Safe and Sound

NEW YORK STATE EMPLOYEES

NEW YORK, NY
2
Star Rating
NEW YORK STATE EMPLOYEES is an NCUA-insured credit union founded in 1935 and currently headquartered in NEW YORK, NY. The credit union has assets of $2.0 million, according to June 30, 2017, regulatory filings.

Thanks to the work of 2 full-time employees, the credit union holds loans and leases worth $1.2 million. NEW YORK STATE EMPLOYEES's 1,183 members currently have $1.9 million in shares with the credit union.

Overall, Bankrate did not have enough information on this institution to give it a star rating. Here's an analysis of how the credit union faired on the three key criteria Bankrate used to score U.S. credit unions.

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SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial stability, capital is essential. It acts as a buffer against losses and affords protection for members when a credit union is struggling financially. When it comes to safety and soundness, more capital is better.

NEW YORK STATE EMPLOYEES received a score of 0 out of a possible 30 points on our test to measure capital adequacy, falling short of the national average of 15.26.

NEW YORK STATE EMPLOYEES appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 4.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine 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 lots of these kinds of assets could eventually have to use capital to absorb losses, diminishing its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in diminished earnings and potentially more risk of a future failure.

NEW YORK STATE EMPLOYEES scored below the national average of 38.15 on Bankrate's test of asset quality, racking up 0 out of a possible 40 points .

A greater-than-average ratio of problem assets of 97.00 percent in our test was something to keep an eye on for NEW YORK STATE EMPLOYEES.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, likely making the credit union better prepared to withstand economic trouble. Obviously, credit unions that are losing money are less able to do those things.

On Bankrate's test of earnings, NEW YORK STATE EMPLOYEES scored 0 out of a possible 30, less than the national average of 10.31.

NEW YORK STATE EMPLOYEES had an earnings ratio of -242.00 percent in our test, below the average for all credit unions, an indication that it's performing behind 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.