Safe and Sound

QUINDARO HOMES

Kansas City, KS
4
Star Rating
Kansas City, KS-based QUINDARO HOMES is an NCUA-insured credit union started in 1952. Regulatory filings show the credit union having $932,595 in assets, as of December 31, 2017.

QUINDARO HOMES's 239 members currently have $658,871 in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $430,591.

Overall, Bankrate believes that, as of December 31, 2017, QUINDARO HOMES exhibited a good condition, earning 4 out of 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 evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of an institution's financial strength. It acts as a cushion against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, the more capital, the better.

QUINDARO HOMES scored 30 out of a possible 30 points on our test to measure capital adequacy, beating the national average of 15.65.

QUINDARO HOMES had a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions, a sign that it could have an easier time weathering financial trouble 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 troubled assets, such as past-due loans.

Having large numbers of these types of assets may eventually force a credit union to use capital to cover losses, diminishing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, resulting in lower earnings and potentially more risk of a failure in the future.

On Bankrate's asset quality test, QUINDARO HOMES scored 28 out of a possible 40 points, falling short of the national average of 38.09 points.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. Earnings can be retained by the credit union, increasing its capital buffer, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. Credit unions that are losing money, however, have less ability to do those things.

QUINDARO HOMES scored 2 out of a possible 30 on Bankrate's earnings test, coming in below the national average of 10.11.

QUINDARO HOMES had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, an indication 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.