Safe and Sound

SPACE AGE TULSA

Tulsa, OK
3
Star Rating
SPACE AGE TULSA is a Tulsa, OK-based, NCUA-insured credit union dating back to 1969. The credit union has $15.7 million in assets, according to December 31, 2017, regulatory filings.

With 4 full-time employees, the credit union currently holds loans and leases worth $5.7 million. Its 1,829 members currently have $13.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SPACE AGE TULSA exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three key criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of an institution's financial resilience. It works as a cushion against losses and affords protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is better.

On our test to measure the adequacy of a credit union's capital, SPACE AGE TULSA scored 16 out of a possible 30 points, exceeding the national average of 15.65.

SPACE AGE TULSA's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

This test is intended to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid loans.

Having lots of these kinds of assets may eventually require a credit union to use capital to absorb losses, cutting down on its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and increasing the chances of a failure in the future.

SPACE AGE TULSA beat out the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

A below-average ratio of problem assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's profitability affects its long-term survivability. A credit union can retain its earnings, expanding its capital buffer, or use them to deal with problematic loans, potentially making the credit union more resilient in tough times. Losses, on the other hand, diminish a credit union's ability to do those things.

On Bankrate's test of earnings, SPACE AGE TULSA scored 0 out of a possible 30, below the national average of 10.11.

SPACE AGE TULSA had an earnings ratio of 0.00 percent in our test, better than 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.