Safe and Sound

NUMARK

JOLIET, IL
5
Star Rating
JOLIET, IL-based NUMARK is an NCUA-insured credit union started in 1954. As of December 31, 2017, the credit union had assets of $247.9 million.

Members have $166.7 million on deposit tended by 82 full-time employees. With that footprint, the credit union currently holds loans and leases worth $166.7 million. Its 32,845 members currently have $206.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, NUMARK 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 important criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and affords protection for members during times of economic trouble for the credit union. Therefore, a credit union's level of capital is an important measurement of its financial fortitude. From a safety and soundness perspective, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, NUMARK racked up 18 out of a possible 30 points, beating out the national average of 15.65.

NUMARK had a capitalization ratio of 18.00 percent in our test, above the average for all credit unions, an indication that it's on more solid financial footing than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of troubled assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with extensive holdings of these types of assets could eventually have to use capital to absorb losses, reducing 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 interest for the credit union, pushing down earnings and increasing the chances of a future failure.

NUMARK scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating the national average of 38.09.

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. A credit union can retain its earnings, giving a boost to its capital buffer, or use them to address problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money are less able to do those things.

NUMARK scored 16 out of a possible 30 on Bankrate's earnings test, above the national average of 10.11.

NUMARK had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, a sign that it's running ahead of 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.