Safe and Sound

PARTNERS FINANCIAL

GLEN ALLEN, VA
2
Star Rating
Founded in 1958, PARTNERS FINANCIAL is an NCUA-insured credit union headquartered in GLEN ALLEN, VA. As of December 31, 2017, the credit union had assets of $79.0 million.

Members have $56.6 million on deposit tended by 25 full-time employees. With that footprint, the credit union has amassed loans and leases worth $56.6 million. Its 8,903 members currently have $71.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, PARTNERS FINANCIAL exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three important criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of a credit union's financial fortitude. It works as a bulwark against losses and affords protection for members when a credit union is experiencing economic trouble. When looking at safety and soundness, the higher the capital, the better.

PARTNERS FINANCIAL scored below the national average of 15.65 on our test to measure capital adequacy, achieving a score of 6 out of a possible 30 points.

PARTNERS FINANCIAL's capitalization ratio of 6.00 percent in our test was worse than the average for all credit unions, suggesting that it could be less resilient in a crisis than its peers.

Asset Quality Score

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

A credit union with lots of these types of assets could eventually be forced to use capital to cover losses, decreasing its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning money, pushing down earnings and increasing the chances of a failure in the future.

PARTNERS FINANCIAL fell below the national average of 38.09 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

A below-average ratio of troubled 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 earning money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or put them to work addressing problematic loans, likely making the credit union better able to withstand economic trouble. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's earnings test, PARTNERS FINANCIAL scored 0 out of a possible 30, falling short of the national average of 10.11.

PARTNERS FINANCIAL had an earnings ratio of 0.00 percent in our test, better than 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.