Safe and Sound

SAGINAW COUNTY EMPLOYEES

Saginaw, MI
4
Star Rating
SAGINAW COUNTY EMPLOYEES is a SAGINAW, MI-based, NCUA-insured credit union that opened its doors in 1956. The credit union has assets of $35.0 million, according to December 31, 2017, regulatory filings.

With 10 full-time employees, the credit union holds loans and leases worth $16.1 million. SAGINAW COUNTY EMPLOYEES's 3,019 members currently have $31.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SAGINAW COUNTY EMPLOYEES exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three major criteria Bankrate used to grade American credit unions.

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 stability, capital is valuable. It works as a bulwark against losses and affords protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is better.

On our test to measure capital adequacy, SAGINAW COUNTY EMPLOYEES received a score of 10 out of a possible 30 points, failing to reach the national average of 15.65.

SAGINAW COUNTY EMPLOYEES's capitalization ratio of 10.00 percent in our test was less than the average for all credit unions, suggesting that it's less well prepared for financial trouble 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 unpaid loans.

A credit union with lots of these kinds of assets may eventually be forced to use capital to cover losses, reducing its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning money, pushing down earnings and increasing the risk of a future failure.

SAGINAW COUNTY EMPLOYEES exceeded the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, less than 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 has an effect on its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, likely making the credit union better prepared to withstand financial trouble. Conversely, losses reduce a credit union's ability to do those things.

SAGINAW COUNTY EMPLOYEES scored 12 out of a possible 30 on Bankrate's earnings test, exceeding 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.