Safe and Sound

PAUL QUINN

Jamaica, NY
5
Star Rating
PAUL QUINN is a Jamaica, NY-based, NCUA-insured credit union dating back to 1980. The credit union holds assets of $335,202, according to December 31, 2017, regulatory filings.

The credit union currently holds loans and leases worth $49,326. Its 178 members currently have $255,423 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, PAUL QUINN exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for 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?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members when a credit union is experiencing economic instability. Therefore, when it comes to measuring an an institution's financial strength, capital is key. From a safety and soundness perspective, the higher the capital, the better.

On our test to measure capital adequacy, PAUL QUINN scored 30 out of a possible 30 points, exceeding the national average of 15.65.

PAUL QUINN appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 30.00 percent in our test, above the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to determine the impact of troubled assets, such as unpaid loans, on the credit union's loan loss reserves and overall capitalization.

Having a large number of these kinds of assets could eventually require a credit union to use capital to cover losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, diminishing earnings and elevating the risk of a failure in the future.

PAUL QUINN scored 40 out of a possible 40 points on Bankrate's test of asset quality, better than the national average of 38.09.

Earnings score

How successful a credit union is at making money affects its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. Conversely, losses take away from a credit union's ability to do those things.

PAUL QUINN fell behind the national average on Bankrate's earnings test, achieving a score of 4 out of a possible 30.

One indication that the credit union is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, better 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.