Safe and Sound

SINGING RIVER

MOSS POINT, MS
4
Star Rating
SINGING RIVER is an NCUA-insured credit union started in 1953 and currently based in MOSS POINT, MS. Regulatory filings show the credit union having assets of $210.5 million, as of December 31, 2017.

Thanks to the efforts of 64 full-time employees, the credit union currently holds loans and leases worth $180.1 million. Its 26,384 members currently have $189.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SINGING RIVER exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three important criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial resilience, capital is essential. It acts as a bulwark against losses and provides protection for members when a credit union is experiencing financial trouble. From a safety and soundness perspective, the higher the capital, the better.

SINGING RIVER came in below the national average of 15.65 on our test to measure capital adequacy, achieving a score of 8 out of a possible 30 points.

SINGING RIVER had a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions, suggesting that it could have a harder time weathering 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 mortgages.

Having large numbers of these kinds of assets could eventually force a credit union to use capital to cover losses, reducing its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in diminished earnings and potentially more risk of a future failure.

SINGING RIVER scored 36 out of a possible 40 points on Bankrate's asset quality test, coming in below the national average of 38.09.

The credit union's ratio of troubled assets was 0.00 percent in our test, lower than the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. Earnings can be retained by the credit union, giving a boost to its capital buffer, or be used to deal with problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money have less ability to do those things.

SINGING RIVER scored 12 out of a possible 30 on Bankrate's earnings test, beating out the national average of 10.11.

SINGING RIVER had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, an indication 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.