Safe and Sound

PRESSERS UNION LOCAL 12 ILGWU

BOSTON, MA
4
Star Rating
BOSTON, MA-based PRESSERS UNION LOCAL 12 ILGWU is an NCUA-insured credit union started in 1953. The credit union holds assets of $156,028, according to December 31, 2017, regulatory filings.

The credit union holds loans and leases worth $48,593. PRESSERS UNION LOCAL 12 ILGWU's 52 members currently have $139,866 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, PRESSERS UNION LOCAL 12 ILGWU exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three key criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and provides protection for members during periods of financial instability for the credit union. Therefore, when it comes to measuring an a credit union's financial resilience, capital is key. When looking at safety and soundness, more capital is preferred.

PRESSERS UNION LOCAL 12 ILGWU received a score of 12 out of a possible 30 points on our test to measure capital adequacy, less than the national average of 15.65.

PRESSERS UNION LOCAL 12 ILGWU had a capitalization ratio of 12.00 percent in our test, lower than the average for all credit unions, suggesting that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

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

Having large numbers of these kinds of assets could eventually force 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 money, decreasing earnings and elevating the chances of a failure in the future.

On Bankrate's test of asset quality, PRESSERS UNION LOCAL 12 ILGWU scored 40 out of a possible 40 points, beating the national average of 38.09 points.

Earnings score

A credit union's ability to earn money affects its long-term survivability. A credit union can retain its earnings, increasing its capital cushion, 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.

PRESSERS UNION LOCAL 12 ILGWU scored 16 out of a possible 30 on Bankrate's earnings test, beating the national average of 10.11.

PRESSERS UNION LOCAL 12 ILGWU had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, suggesting that it's running ahead of 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.