Safe and Sound

S I PHILADELPHIA

Philadelphia, PA
5
Star Rating
S I PHILADELPHIA is an NCUA-insured credit union started in 1957 and currently based in Philadelphia, PA. The credit union has $220,801 in assets, according to December 31, 2017, regulatory filings.

S I PHILADELPHIA's 125 members currently have $145,390 in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $15,797.

Overall, Bankrate believes that, as of December 31, 2017, S I PHILADELPHIA exhibited a superior condition, earning a full 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 evaluate American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial fortitude, capital is key. It acts as a bulwark against losses and affords protection for members during periods of economic trouble for the credit union. When looking at safety and soundness, more capital is better.

S I PHILADELPHIA racked up 30 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, better than the national average of 15.65.

S I PHILADELPHIA had a capitalization ratio of 30.00 percent in our test, above the average for all credit unions, a sign that it's on more solid financial footing than its peers.

Asset Quality Score

In this test, Bankrate tries to determine 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.

Having a large number of these types of assets could eventually require a credit union 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, resulting in depressed earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, S I PHILADELPHIA 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

A credit union's profitability affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or put them to work addressing problematic loans, likely making the credit union more resilient in times of trouble. Losses, on the other hand, lessen a credit union's ability to do those things.

On Bankrate's earnings test, S I PHILADELPHIA scored 2 out of a possible 30, failing to reach the national average of 10.11.

One sign that the credit union 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.