Safe and Sound

S I EMPLOYEES

SARATOGA SPRING, NY
4
Star Rating
Started in 1955, S I EMPLOYEES is an NCUA-insured credit union headquartered in SARATOGA SPRING, NY. As of December 31, 2017, the credit union held assets of $413,916.

S I EMPLOYEES's 116 members currently have $263,731 in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $138,404.

Overall, Bankrate believes that, as of December 31, 2017, S I EMPLOYEES exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members during periods of financial instability for the credit union. Therefore, a credit union's level of capital is an essential measurement of its financial strength. When looking at safety and soundness, the more capital, the better.

S I EMPLOYEES exceeded the national average of 15.65 points on our test to measure capital adequacy, racking up 30 out of a possible 30 points.

S I EMPLOYEES had a capitalization ratio of 30.00 percent in our test, above the average for all credit unions, suggesting that it's more well prepared for financial trouble than its peers.

Asset Quality Score

Bankrate uses this test to determine the effect of troubled assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

A credit union with a large number of these kinds of assets could eventually have to use capital to absorb losses, diminishing its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in depressed earnings and potentially more risk of a failure in the future.

On Bankrate's test of asset quality, S I EMPLOYEES scored 40 out of a possible 40 points, beating out the national average of 38.09 points.

A lower-than-average ratio of problem 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 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 tough times. Obviously, credit unions that are losing money are less able to do those things.

S I EMPLOYEES fell behind the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

One sign that S I EMPLOYEES is doing better than 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.