Safe and Sound

OHIO CATHOLIC

GARFIELD HTS, OH
5
Star Rating
GARFIELD HTS, OH-based OHIO CATHOLIC is an NCUA-insured credit union founded in 1954. Regulatory filings show the credit union having assets of $166.0 million, as of December 31, 2017.

With 57 full-time employees, the credit union holds loans and leases worth $119.6 million. OHIO CATHOLIC's 13,819 members currently have $137.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, OHIO CATHOLIC exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three major criteria Bankrate used to score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

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

On our test to measure the adequacy of a credit union's capital, OHIO CATHOLIC achieved a score of 16 out of a possible 30 points, above the national average of 15.65.

OHIO CATHOLIC had a capitalization ratio of 16.00 percent in our test, identical the average for all credit unions, suggesting that it's running neck and neck with its peers.

Asset Quality Score

This test is intended to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as past-due loans.

Having extensive holdings of these types of assets suggests a credit union could eventually 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 money, reducing earnings and elevating the chances of a future failure.

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

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 earning money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital buffer, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses diminish a credit union's ability to do those things.

OHIO CATHOLIC exceeded the national average on Bankrate's test of earnings, achieving a score of 18 out of a possible 30.

One sign that the credit union is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.