Safe and Sound

OUR LADY OF THE ANGELS

FALL RIVER, MA
2
Star Rating
OUR LADY OF THE ANGELS is a FALL RIVER, MA-based, NCUA-insured credit union dating back to 1961. The credit union holds assets of $2.5 million, according to June 30, 2017, regulatory filings.

With 2 full-time employees, the credit union has amassed loans and leases worth $1.6 million. OUR LADY OF THE ANGELS's 1,021 members currently have $2.3 million in shares with the credit union.

Overall, Bankrate believes that, as of June 30, 2017, OUR LADY OF THE ANGELS exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three important criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial fortitude, capital is crucial. It works as a bulwark against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, the more capital, the better.

OUR LADY OF THE ANGELS came in below the national average of 15.26 on our test to measure the adequacy of a credit union's capital, scoring 8 out of a possible 30 points.

OUR LADY OF THE ANGELS appears to be on less solid financial footing than its peers in this area, with a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the impact of troubled assets, such as past-due mortgages, on the credit union's loan loss reserves and overall capitalization.

Having lots of these kinds of assets could eventually require a credit union to use capital to cover losses, decreasing its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, pushing down earnings and increasing the risk of a future failure.

OUR LADY OF THE ANGELS scored below the national average of 38.15 on Bankrate's asset quality test, racking up 32 out of a possible 40 points .

Troubled assets made up 20.00 percent of the credit union's total assets in our test, above the national average and a potential area of concern.

Earnings score

How successful a credit union is at earning 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 deal with problematic loans, likely making the credit union better prepared to withstand financial shocks. Credit unions that are losing money, however, have less ability to do those things.

OUR LADY OF THE ANGELS fell short of the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

One indication that OUR LADY OF THE ANGELS is lagging behind its peers in this area was its earnings ratio of -6.00 percent in our test, less 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.