Safe and Sound

PIONEER WEST VIRGINIA

Charleston, WV
4
Star Rating
Founded in 1940, PIONEER WEST VIRGINIA is an NCUA-insured credit union based in Charleston, WV. Regulatory filings show the credit union having assets of $202.9 million, as of December 31, 2017.

Thanks to the efforts of 48 full-time employees, the credit union holds loans and leases worth $173.1 million. PIONEER WEST VIRGINIA's 17,284 members currently have $155.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, PIONEER WEST VIRGINIA exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three major criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a buffer against losses and as protection for members when a credit union is experiencing economic trouble. It follows then that when it comes to measuring an an institution's financial fortitude, capital is crucial. When looking at safety and soundness, more capital is preferred.

On our test to measure the adequacy of a credit union's capital, PIONEER WEST VIRGINIA received a score of 10 out of a possible 30 points, coming in below the national average of 15.65.

PIONEER WEST VIRGINIA had a capitalization ratio of 10.00 percent in our test, lower than the average for all credit unions, suggesting that it's on less solid financial footing than its peers.

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.

A credit union with extensive holdings of these kinds of assets may eventually be required to use capital to cover losses, reducing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, pushing down earnings and increasing the risk of a future failure.

On Bankrate's test of asset quality, PIONEER WEST VIRGINIA scored 40 out of a possible 40 points, exceeding the national average of 38.09 points.

A below-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 earning money affects its safety and soundness. Earnings may be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, potentially making the credit union better prepared to withstand financial trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

PIONEER WEST VIRGINIA received below-average marks on Bankrate's test of earnings, achieving a score of 10 out of a possible 30.

PIONEER WEST VIRGINIA had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, suggesting that it's beating 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.