Safe and Sound

SAN DIEGO COUNTY

San Diego, CA
5
Star Rating
SAN DIEGO COUNTY is an NCUA-insured credit union founded in 1938 and currently based in San Diego, CA. Regulatory filings show the credit union having $8.26 billion in assets, as of December 31, 2017.

Members have $6.40 billion on deposit tended by 796 full-time employees. With that footprint, the credit union currently holds loans and leases worth $6.40 billion. SAN DIEGO COUNTY's 374,218 members currently have $6.70 billion in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SAN DIEGO COUNTY exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three major criteria Bankrate used to grade 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 an institution's financial strength, capital is useful. It acts as a buffer against losses and affords protection for members when a credit union is experiencing economic trouble. When it comes to safety and soundness, the higher the capital, the better.

SAN DIEGO COUNTY scored above the national average of 15.65 points on our test to measure capital adequacy, racking up 20 out of a possible 30 points.

SAN DIEGO COUNTY appears to be more resilient than its peers, with a capitalization ratio of 20.00 percent in our test, better than the average for all credit unions.

Asset Quality Score

This test's purpose is to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid loans.

Having large numbers of these types of assets means a credit union may have to use capital to absorb losses, cutting down on its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, diminishing earnings and elevating the chances of a failure in the future.

SAN DIEGO COUNTY scored 40 out of a possible 40 points on Bankrate's test of asset quality, better than the national average of 38.09.

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, giving a boost to its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

On Bankrate's test of earnings, SAN DIEGO COUNTY scored 18 out of a possible 30, beating the national average of 10.11.

One indication that SAN DIEGO COUNTY is running ahead of 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.