Safe and Sound

SOUTH JENNINGS CATHOLIC

JENNINGS, LA
4
Star Rating
SOUTH JENNINGS CATHOLIC is an NCUA-insured credit union founded in 1960 and currently headquartered in JENNINGS, LA. Regulatory filings show the credit union having assets of $1.5 million, as of December 31, 2017.

The credit union currently holds loans and leases worth $682,037. SOUTH JENNINGS CATHOLIC's 728 members currently have $1.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SOUTH JENNINGS CATHOLIC exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three major 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 resilience, capital is important. It works as a cushion against losses and provides protection for members when a credit union is struggling financially. From a safety and soundness perspective, the higher the capital, the better.

SOUTH JENNINGS CATHOLIC scored above the national average of 15.65 points on our test to measure capital adequacy, receiving a score of 20 out of a possible 30 points.

SOUTH JENNINGS CATHOLIC appears to be stronger than its peers, with a capitalization ratio of 20.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

This test is intended to estimate how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as past-due mortgages.

A credit union with a large number of these types of assets could eventually have to use capital to cover losses, diminishing 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 depressed earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, SOUTH JENNINGS CATHOLIC scored 32 out of a possible 40 points, falling short of the national average of 38.09 points.

Troubled assets made up 0.00 percent of SOUTH JENNINGS CATHOLIC's total assets in our test, lower than the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance affects its long-term survivability. 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 better able to withstand financial trouble. Obviously, credit unions that are losing money have less ability to do those things.

On Bankrate's test of earnings, SOUTH JENNINGS CATHOLIC scored 4 out of a possible 30, falling short of the national average of 10.11.

One indication that the credit union is beating its peers in this area was its earnings ratio of 0.00 percent in our test, better than the average for all credit unions.

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.