Safe and Sound

RIVERSET CREDIT UNION

Pittsburgh, PA
5
Star Rating
RIVERSET CREDIT UNION is a Pittsburgh, PA-based, NCUA-insured credit union dating back to 1934. Regulatory filings show the credit union having $113.2 million in assets, as of December 31, 2017.

With 21 full-time employees, the credit union has amassed loans and leases worth $91.2 million. RIVERSET CREDIT UNION's 12,139 members currently have $86.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, RIVERSET CREDIT UNION exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key 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 an essential measurement of an institution's financial resilience. It acts as a cushion against losses and as protection for members during times of financial trouble for the credit union. When looking at safety and soundness, the higher the capital, the better.

RIVERSET CREDIT UNION scored 30 out of a possible 30 points on our test to measure capital adequacy, exceeding the national average of 15.65.

RIVERSET CREDIT UNION's capitalization ratio of 30.00 percent in our test was better than the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

This test is intended 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 lots of these types of assets could eventually require a credit union to use capital to cover losses, cutting down on its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, pushing down earnings and elevating the risk of a failure in the future.

On Bankrate's asset quality test, RIVERSET CREDIT UNION scored 40 out of a possible 40 points, beating out the national average of 38.09 points.

A lower-than-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, likely making the credit union better prepared to withstand financial shocks. Conversely, losses reduce a credit union's ability to do those things.

On Bankrate's earnings test, RIVERSET CREDIT UNION scored 6 out of a possible 30, below the national average of 10.11.

RIVERSET CREDIT UNION had an earnings ratio of 0.00 percent in our test, better than 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.