Safe and Sound

PHILADELPHIA MINT

PHILADELPHIA, PA
1
Star Rating
PHILADELPHIA MINT is an NCUA-insured credit union started in 1939 and currently based in PHILADELPHIA, PA. As of December 31, 2017, the credit union had assets of $701,220.

PHILADELPHIA MINT's 358 members currently have $637,066 in shares with the credit union. With that footprint, the credit union holds loans and leases worth $441,498.

Overall, Bankrate believes that, as of December 31, 2017, PHILADELPHIA MINT exhibited a significantly below-average condition, earning 1 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?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and affords protection for members when a credit union is experiencing financial instability. Therefore, when it comes to measuring an a credit union's financial fortitude, capital is crucial. When it comes to safety and soundness, more capital is preferred.

PHILADELPHIA MINT fell short of the national average of 15.65 on our test to measure capital adequacy, scoring 10 out of a possible 30 points.

PHILADELPHIA MINT's capitalization ratio of 10.00 percent in our test was worse than the average for all credit unions, an indication that it could be less resilient in a crisis than its peers.

Asset Quality Score

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

Having lots of these kinds of assets suggests a credit union could eventually have to use capital to cover losses, shrinking 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, decreasing earnings and elevating the chances of a failure in the future.

On Bankrate's asset quality test, PHILADELPHIA MINT scored 40 out of a possible 40 points, above the national average of 38.09 points.

Earnings score

A credit union's earnings performance has an effect on its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, likely making the credit union more resilient in tough times. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's test of earnings, PHILADELPHIA MINT scored 0 out of a possible 30, below the national average of 10.11.

PHILADELPHIA MINT 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.