Safe and Sound

ST. COLMAN & AFFILIATES

CLEVELAND, OH
3
Star Rating
Founded in 1939, ST. COLMAN & AFFILIATES is an NCUA-insured credit union based in CLEVELAND, OH. As of December 31, 2017, the credit union had assets of $6.6 million.

Members have $3.4 million on deposit tended by 4 full-time employees. With that footprint, the credit union holds loans and leases worth $3.4 million. Its 3,713 members currently have $6.0 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. COLMAN & AFFILIATES exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three key criteria Bankrate used to evaluate U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a bulwark against losses and affords protection for members when a credit union is struggling financially. It follows then that when it comes to measuring an a credit union's financial resilience, capital is important. From a safety and soundness perspective, the higher the capital, the better.

ST. COLMAN & AFFILIATES finished below the national average of 15.65 on our test to measure capital adequacy, receiving a score of 8 out of a possible 30 points.

ST. COLMAN & AFFILIATES had a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions, an indication that it's less well prepared for financial trouble than its peers.

Asset Quality Score

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

A credit union with extensive holdings of these kinds of assets could eventually be required to use capital to absorb losses, reducing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, reducing earnings and elevating the chances of a future failure.

ST. COLMAN & AFFILIATES scored 36 out of a possible 40 points on Bankrate's test of asset quality, failing to reach the national average of 38.09.

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

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. Earnings may be retained by the credit union, boosting its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. Credit unions that are losing money, however, are less able to do those things.

ST. COLMAN & AFFILIATES scored 6 out of a possible 30 on Bankrate's earnings test, lower than the national average of 10.11.

One sign that the credit union is outperforming 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.