Safe and Sound

SELFRELIANCE UKRAINIAN AMERICAN

Chicago, IL
5
Star Rating
Chicago, IL-based SELFRELIANCE UKRAINIAN AMERICAN is an NCUA-insured credit union started in 1951. Regulatory filings show the credit union having assets of $485.1 million, as of December 31, 2017.

Thanks to the work of 78 full-time employees, the credit union holds loans and leases worth $219.6 million. Its 20,810 members currently have $386.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SELFRELIANCE UKRAINIAN AMERICAN exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three important criteria Bankrate used to score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial resilience. It works as a cushion against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is preferred.

SELFRELIANCE UKRAINIAN AMERICAN scored 30 out of a possible 30 points on our test to measure capital adequacy, beating the national average of 15.65.

SELFRELIANCE UKRAINIAN AMERICAN's capitalization ratio of 30.00 percent in our test was better than the average for all credit unions, an indication that it's more well prepared for financial trouble than its peers.

Asset Quality Score

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

A credit union with a large number of these types of assets could eventually have to use capital to cover losses, cutting down on its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a future failure.

SELFRELIANCE UKRAINIAN AMERICAN scored above the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of SELFRELIANCE UKRAINIAN AMERICAN's total assets in our test, lower than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. A credit union can retain its earnings, increasing 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, diminish a credit union's ability to do those things.

On Bankrate's earnings test, SELFRELIANCE UKRAINIAN AMERICAN scored 6 out of a possible 30, lower than the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's beating its peers in this area.

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.