Safe and Sound

SELF-HELP

DURHAM, NC
2
Star Rating
Started in 2008, SELF-HELP is an NCUA-insured credit union headquartered in DURHAM, NC. As of December 31, 2017, the credit union had assets of $1.10 billion.

Members have $944.4 million on deposit tended by 298 full-time employees. With that footprint, the credit union holds loans and leases worth $944.4 million. Its 77,059 members currently have $794.8 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SELF-HELP exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three key criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial fortitude, capital is essential. It works as a buffer against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, the more capital, the better.

SELF-HELP received a score of 0 out of a possible 30 points on our test to measure capital adequacy, less than the national average of 15.65.

Asset Quality Score

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

A credit union with lots of these types of assets could eventually be required to use capital to cover losses, reducing its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, decreasing earnings and elevating the chances of a failure in the future.

SELF-HELP finished below the national average of 38.09 on Bankrate's asset quality test, racking up 36 out of a possible 40 points .

A lower-than-average ratio of problem 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 ability to earn money has an effect on its long-term survivability. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. Losses, on the other hand, reduce a credit union's ability to do those things.

On Bankrate's earnings test, SELF-HELP scored 0 out of a possible 30, below the national average of 10.11.

One indication that SELF-HELP is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.