Safe and Sound

SILVER STATE SCHOOLS FAMILY

LAS VEGAS, NV
5
Star Rating
LAS VEGAS, NV-based SILVER STATE SCHOOLS FAMILY is an NCUA-insured credit union started in 1951. The credit union holds $752.8 million in assets, according to December 31, 2017, regulatory filings.

Members have $522.9 million on deposit tended by 168 full-time employees. With that footprint, the credit union currently holds loans and leases worth $522.9 million. Its 52,317 members currently have $681.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SILVER STATE SCHOOLS FAMILY 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 major 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 works as a buffer against losses and provides protection for members during periods of financial trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial fortitude, capital is valuable. When it comes to safety and soundness, the higher the capital, the better.

SILVER STATE SCHOOLS FAMILY received a score of 6 out of a possible 30 points on our test to measure capital adequacy, failing to reach the national average of 15.65.

SILVER STATE SCHOOLS FAMILY's capitalization ratio of 6.00 percent in our test was below the average for all credit unions, a sign that it's on less solid financial footing than its peers.

Asset Quality Score

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

A credit union with large numbers of these kinds of assets may eventually have 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 money, diminishing earnings and increasing the risk of a failure in the future.

On Bankrate's asset quality test, SILVER STATE SCHOOLS FAMILY scored 40 out of a possible 40 points, beating the national average of 38.09 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 profitability has an effect on its long-term survivability. A credit union can retain its earnings, increasing its capital cushion, or use them to address problematic loans, likely making the credit union more resilient in tough times. Credit unions that are losing money, however, have less ability to do those things.

SILVER STATE SCHOOLS FAMILY did above-average on Bankrate's test of earnings, achieving a score of 28 out of a possible 30.

SILVER STATE SCHOOLS FAMILY had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, suggesting that it's doing better than 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.