Safe and Sound

PARISHIONERS

Torrance, CA
4
Star Rating
PARISHIONERS is an NCUA-insured credit union started in 1961 and currently headquartered in Torrance, CA. As of December 31, 2017, the credit union had assets of $39.7 million.

Thanks to the work of 7 full-time employees, the credit union holds loans and leases worth $12.6 million. PARISHIONERS's 2,918 members currently have $36.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, PARISHIONERS 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 important criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of an institution's financial strength. It acts as a cushion against losses and provides protection for members when a credit union is experiencing financial trouble. From a safety and soundness perspective, more capital is preferred.

PARISHIONERS received a score of 8 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, lower than the national average of 15.65.

PARISHIONERS appears to be less well prepared for financial trouble 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

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

Having extensive holdings of these kinds of assets suggests a credit union may have to use capital to cover losses, cutting down on its equity cushion. 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 increasing the risk of a failure in the future.

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

PARISHIONERS's ratio of troubled assets was 0.00 percent in our test, below the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's profitability has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in tough times. Obviously, credit unions that are losing money are less able to do those things.

PARISHIONERS scored 12 out of a possible 30 on Bankrate's test of earnings, exceeding the national average of 10.11.

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, higher 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.