Safe and Sound

SILGAN WHITE CAP

Downers Grove, IL
5
Star Rating
SILGAN WHITE CAP is an NCUA-insured credit union started in 1935 and currently headquartered in Downers Grove, IL. The credit union has $2.7 million in assets, according to December 31, 2017, regulatory filings.

The credit union currently holds loans and leases worth $1.3 million. Its 516 members currently have $1.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SILGAN WHITE CAP 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 key criteria Bankrate used to grade U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and provides protection for members when a credit union is struggling financially. It follows then that an institution's level of capital is an essential measurement of its financial fortitude. When it comes to safety and soundness, the higher the capital, the better.

SILGAN WHITE CAP did better than the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, receiving a score of 30 out of a possible 30 points.

SILGAN WHITE CAP had a capitalization ratio of 30.00 percent in our test, above the average for all credit unions, an indication that it could be more resilient in a crisis than its peers.

Asset Quality Score

This test is intended to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by troubled assets, such as unpaid loans.

A credit union with extensive holdings of these kinds of assets could eventually be forced to use capital to absorb losses, shrinking its equity cushion. 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 failure in the future.

SILGAN WHITE CAP scored above the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

The credit union's ratio of problem assets was 0.00 percent in our test, less than the national average and 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. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, likely making the credit union better able to withstand financial trouble. However, credit unions that are losing money are less able to do those things.

SILGAN WHITE CAP fell short of the national average on Bankrate's test of earnings, achieving a score of 2 out of a possible 30.

SILGAN WHITE CAP 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.