Safe and Sound

SIMPLOT EMPLOYEES

Caldwell, ID
4
Star Rating
Caldwell, ID-based SIMPLOT EMPLOYEES is an NCUA-insured credit union founded in 1956. Regulatory filings show the credit union having assets of $20.0 million, as of December 31, 2017.

Members have $12.0 million on deposit tended by 8 full-time employees. With that footprint, the credit union currently holds loans and leases worth $12.0 million. SIMPLOT EMPLOYEES's 4,807 members currently have $17.0 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SIMPLOT EMPLOYEES exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three key criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial strength, capital is crucial. It acts as a cushion against losses and as protection for members during times of economic trouble for the credit union. When looking at safety and soundness, more capital is preferred.

SIMPLOT EMPLOYEES exceeded the national average of 15.65 points on our test to measure capital adequacy, racking up 22 out of a possible 30 points.

SIMPLOT EMPLOYEES had a capitalization ratio of 22.00 percent in our test, better than the average for all credit unions, suggesting that it's more well prepared for financial trouble than its peers.

Asset Quality Score

This test's purpose is to estimate how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.

Having lots of these types of assets means a credit union may have to use capital to cover losses, cutting down on its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, diminishing earnings and increasing the chances of a future failure.

SIMPLOT EMPLOYEES 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 suggestive of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. Earnings can be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. However, credit unions that are losing money are less able to do those things.

SIMPLOT EMPLOYEES scored 0 out of a possible 30 on Bankrate's earnings test, failing to reach the national average of 10.11.

SIMPLOT EMPLOYEES had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting 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.