Asset Quality Score
This test is intended to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.
Having extensive holdings of these types of assets suggests a credit union could have to use capital to absorb losses, reducing its cushion of equity. It also means that there are likely to be many assets that are 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 asset quality test, NORFOLK FIRE DEPARTMENT scored 40 out of a possible 40 points, above the national average of 38.09 points.
The credit union's ratio of troubled assets was 0.00 percent in our test, lower than the national average and suggestive of greater financial strength than other credit unions.