Safe and Sound

SEA WEST COAST GUARD

Oakland, CA
5
Star Rating
Founded in 1959, SEA WEST COAST GUARD is an NCUA-insured credit union headquartered in Oakland, CA. Regulatory filings show the credit union having assets of $358.0 million, as of December 31, 2017.

Members have $138.2 million on deposit tended by 38 full-time employees. With that footprint, the credit union currently holds loans and leases worth $138.2 million. SEA WEST COAST GUARD's 12,043 members currently have $286.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SEA WEST COAST GUARD exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three key criteria Bankrate used to grade U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

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

SEA WEST COAST GUARD scored 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.

SEA WEST COAST GUARD appears to be stronger than its peers, with a capitalization ratio of 30.00 percent in our test, above the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.

A credit union with large numbers of these kinds of assets may eventually be forced to use capital to absorb losses, reducing its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, reducing earnings and elevating the chances of a future failure.

SEA WEST COAST GUARD exceeded the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

A below-average ratio of troubled assets of 0.00 percent in our test was potentially indicative of superior financial strength compared to other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money have less ability to do those things.

SEA WEST COAST GUARD scored 6 out of a possible 30 on Bankrate's test of earnings, below the national average of 10.11.

One sign that the credit union is beating 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.