Safe and Sound

SOUTH CAROLINA NATIONAL GUARD

Columbia, SC
5
Star Rating
Started in 1966, SOUTH CAROLINA NATIONAL GUARD is an NCUA-insured credit union headquartered in Columbia, SC. As of December 31, 2017, the credit union held assets of $70.0 million.

Thanks to the work of 19 full-time employees, the credit union holds loans and leases worth $31.8 million. Its 6,449 members currently have $56.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SOUTH CAROLINA NATIONAL GUARD exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's an analysis 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

When it comes to measuring a credit union's financial stability, capital is valuable. It works as a bulwark against losses and provides protection for members when a credit union is experiencing economic trouble. When looking at safety and soundness, the higher the capital, the better.

On our test to measure the adequacy of a credit union's capital, SOUTH CAROLINA NATIONAL GUARD achieved a score of 28 out of a possible 30 points, beating the national average of 15.65.

SOUTH CAROLINA NATIONAL GUARD appears to be more resilient than its peers, with a capitalization ratio of 28.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

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

A credit union with extensive holdings of these kinds of assets could eventually have to use capital to absorb losses, shrinking its buffer of equity. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, resulting in depressed earnings and potentially more risk of a future failure.

SOUTH CAROLINA NATIONAL GUARD scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

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 long-term survivability. Earnings can be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, likely making the credit union better able to withstand financial trouble. Obviously, credit unions that are losing money have less ability to do those things.

SOUTH CAROLINA NATIONAL GUARD exceeded the national average on Bankrate's test of earnings, achieving a score of 12 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than 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.