Safe and Sound

RESURRECTION LUTHERAN

CHICAGO, IL
5
Star Rating
CHICAGO, IL-based RESURRECTION LUTHERAN is an NCUA-insured credit union started in 1962. Regulatory filings show the credit union having assets of $236,755, as of December 31, 2017.

The credit union currently holds loans and leases worth $75,566. RESURRECTION LUTHERAN's 83 members currently have $191,242 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, RESURRECTION LUTHERAN exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three important criteria Bankrate used to grade American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial strength. It works as a bulwark against losses and provides protection for members when a credit union is experiencing economic instability. From a safety and soundness perspective, more capital is preferred.

RESURRECTION LUTHERAN racked up 30 out of a possible 30 points on our test to measure capital adequacy, better than the national average of 15.65.

RESURRECTION LUTHERAN appears to be stronger than its peers, with a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

This test is intended to try to understand how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as unpaid mortgages.

A credit union with extensive holdings of these types of assets may eventually have to use capital to absorb losses, diminishing 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, resulting in reduced earnings and potentially more risk of a future failure.

RESURRECTION LUTHERAN scored above the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Earnings score

How successful a credit union is at making money affects its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital buffer, or be used to deal with problematic loans, potentially making the credit union more resilient in times of trouble. Conversely, losses reduce a credit union's ability to do those things.

On Bankrate's earnings test, RESURRECTION LUTHERAN scored 2 out of a possible 30, below the national average of 10.11.

One sign that RESURRECTION LUTHERAN 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.