Safe and Sound

OCALA COMMUNITY

OCALA, FL
4
Star Rating
OCALA COMMUNITY is an NCUA-insured credit union started in 1953 and currently headquartered in OCALA, FL. As of December 31, 2017, the credit union had assets of $30.1 million.

With 9 full-time employees, the credit union holds loans and leases worth $16.5 million. Its 2,771 members currently have $25.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, OCALA COMMUNITY exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three important criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and provides protection for members when a credit union is experiencing financial instability. Therefore, when it comes to measuring an a credit union's financial strength, capital is important. When looking at safety and soundness, more capital is better.

OCALA COMMUNITY exceeded the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 16 out of a possible 30 points.

OCALA COMMUNITY's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

This test's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid mortgages.

A credit union with a large number of these kinds of assets may eventually be required to use capital to absorb losses, diminishing its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, reducing earnings and elevating the chances of a future failure.

On Bankrate's asset quality test, OCALA COMMUNITY scored 40 out of a possible 40 points, exceeding the national average of 38.09 points.

OCALA COMMUNITY's ratio of problem assets was 0.00 percent in our test, beneath the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money affects its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or use them to address problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

On Bankrate's earnings test, OCALA COMMUNITY scored 12 out of a possible 30, beating the national average of 10.11.

One sign that OCALA COMMUNITY is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, better than the average for all credit unions.

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.