Safe and Sound

ROCKLAND EMPLOYEES

Spring Valley, NY
4
Star Rating
ROCKLAND EMPLOYEES is an NCUA-insured credit union started in 1962 and currently headquartered in SPRING VALLEY, NY. The credit union holds $36.3 million in assets, according to December 31, 2017, regulatory filings.

Members have $26.0 million on deposit tended by 18 full-time employees. With that footprint, the credit union has amassed loans and leases worth $26.0 million. ROCKLAND EMPLOYEES's 6,760 members currently have $32.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ROCKLAND EMPLOYEES 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 major criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and provides protection for members during times of financial trouble for the credit union. It follows then that an institution's level of capital is an important measurement of its financial resilience. When looking at safety and soundness, more capital is better.

ROCKLAND EMPLOYEES received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, falling short of the national average of 15.65.

ROCKLAND EMPLOYEES had a capitalization ratio of 12.00 percent in our test, below the average for all credit unions, a sign that it could be less resilient in a crisis than its peers.

Asset Quality Score

Bankrate uses this test to estimate the effect of troubled assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with extensive holdings of these kinds of assets could eventually have to use capital to absorb losses, cutting down on its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and increasing the risk of a future failure.

ROCKLAND EMPLOYEES scored 28 out of a possible 40 points on Bankrate's test of asset quality, below the national average of 38.09.

Troubled assets made up 0.00 percent of ROCKLAND EMPLOYEES's total assets in our test, below 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 affects its safety and soundness. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

ROCKLAND EMPLOYEES scored 20 out of a possible 30 on Bankrate's earnings test, exceeding the national average of 10.11.

One sign that ROCKLAND EMPLOYEES is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, higher 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.