Safe and Sound

SHILOH BAPTIST

WAUKEGAN, IL
1
Star Rating
Founded in 1963, SHILOH BAPTIST is an NCUA-insured credit union headquartered in WAUKEGAN, IL. As of December 31, 2017, the credit union held assets of $291,394.

The credit union currently holds loans and leases worth $42,845. Its 174 members currently have $265,384 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SHILOH BAPTIST exhibited a significantly below-average condition, earning 1 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three major criteria Bankrate used to grade American credit unions.

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 acts as a cushion against losses and as protection for members during times of financial trouble for the credit union. From a safety and soundness perspective, the more capital, the better.

On our test to measure the adequacy of a credit union's capital, SHILOH BAPTIST received a score of 8 out of a possible 30 points, lower than the national average of 15.65.

SHILOH BAPTIST appears to be weaker than its peers in this area, with a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

This test's purpose is to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as unpaid mortgages.

A credit union with large numbers of these kinds of assets may eventually be required to use capital to absorb losses, reducing 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, reducing earnings and increasing the chances of a future failure.

SHILOH BAPTIST fell below the national average of 38.09 on Bankrate's asset quality test, racking up 28 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

How successful a credit union is at making money has an effect on its safety and soundness. Earnings can be retained by the credit union, increasing its capital buffer, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand financial trouble. Credit unions that are losing money, however, are less able to do those things.

SHILOH BAPTIST scored 0 out of a possible 30 on Bankrate's test of earnings, coming in below the national average of 10.11.

SHILOH BAPTIST had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's running ahead of 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.