Asset Quality Score
This test's purpose is to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due mortgages.
A credit union with large numbers of these types of assets may eventually be required to use capital to absorb losses, cutting down on its buffer of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, diminishing earnings and elevating the risk of a future failure.
On Bankrate's asset quality test, SANTA BARBARA COUNTY scored 40 out of a possible 40 points, beating the national average of 38.09 points.
Troubled assets made up 0.00 percent of the credit union's total assets in our test, lower than the national average and suggestive of superior financial strength compared to other credit unions.