Safe and Sound

ST. ANTHONY OF NEW BEDFORD

NEW BEDFORD, MA
3
Star Rating
Started in 1942, ST. ANTHONY OF NEW BEDFORD is an NCUA-insured credit union based in NEW BEDFORD, MA. The credit union holds assets of $11.3 million, according to December 31, 2017, regulatory filings.

With 3 full-time employees, the credit union has amassed loans and leases worth $2.9 million. ST. ANTHONY OF NEW BEDFORD's 1,369 members currently have $10.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. ANTHONY OF NEW BEDFORD exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three key criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and affords protection for members when a credit union is struggling financially. Therefore, a credit union's level of capital is a useful measurement of its financial fortitude. From a safety and soundness perspective, the higher the capital, the better.

ST. ANTHONY OF NEW BEDFORD received a score of 10 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, less than the national average of 15.65.

ST. ANTHONY OF NEW BEDFORD appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 10.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

This test is intended to try to understand how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by troubled assets, such as unpaid loans.

Having a large number of these kinds of assets could eventually require a credit union to use capital to absorb losses, diminishing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning money, resulting in depressed earnings and potentially more risk of a future failure.

On Bankrate's asset quality test, ST. ANTHONY OF NEW BEDFORD scored 40 out of a possible 40 points, above the national average of 38.09 points.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to deal with problematic loans, potentially making the credit union more resilient in tough times. Conversely, losses reduce a credit union's ability to do those things.

ST. ANTHONY OF NEW BEDFORD did below-average on Bankrate's test of earnings, achieving a score of 4 out of a possible 30.

One indication that ST. ANTHONY OF NEW BEDFORD is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, higher 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.