Safe and Sound

PARISH MEMBERS

Metamora, IL
4
Star Rating
PARISH MEMBERS is an NCUA-insured credit union founded in 1945 and currently headquartered in Metamora, IL. Regulatory filings show the credit union having $3.0 million in assets, as of December 31, 2017.

Its 601 members currently have $2.6 million in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $1.1 million.

Overall, Bankrate believes that, as of December 31, 2017, PARISH MEMBERS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three key criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of an institution's financial fortitude. It works as a bulwark against losses and as protection for members during periods of economic trouble for the credit union. When it comes to safety and soundness, more capital is better.

On our test to measure the adequacy of a credit union's capital, PARISH MEMBERS racked up 16 out of a possible 30 points, beating the national average of 15.65.

PARISH MEMBERS'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 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 could eventually force a credit union to use capital to cover losses, decreasing its equity cushion. 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 failure in the future.

On Bankrate's asset quality test, PARISH MEMBERS scored 36 out of a possible 40 points, failing to reach the national average of 38.09 points.

A lower-than-average ratio of problem assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to 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 cushion, or put them to work addressing problematic loans, potentially making the credit union better able to withstand financial shocks. Losses, on the other hand, reduce a credit union's ability to do those things.

On Bankrate's test of earnings, PARISH MEMBERS scored 10 out of a possible 30, lower than the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's doing better than 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.