Safe and Sound

ST. FRANCIS X

PETOSKEY, MI
5
Star Rating
Started in 1951, ST. FRANCIS X is an NCUA-insured credit union headquartered in PETOSKEY, MI. As of December 31, 2017, the credit union held assets of $138.0 million.

Members have $95.5 million on deposit tended by 25 full-time employees. With that footprint, the credit union has amassed loans and leases worth $95.5 million. ST. FRANCIS X's 8,336 members currently have $113.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. FRANCIS X exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a breakdown of how the credit union did on the three major criteria Bankrate used to score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and as protection for members during periods of financial trouble for the credit union. It follows then that an institution's level of capital is a key measurement of its financial strength. When it comes to safety and soundness, more capital is better.

ST. FRANCIS X scored above the national average of 15.65 points on our test to measure capital adequacy, scoring 22 out of a possible 30 points.

ST. FRANCIS X had a capitalization ratio of 22.00 percent in our test, above the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having lots of these types of assets could eventually force a credit union to use capital to absorb losses, diminishing its cushion 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, reducing earnings and elevating the risk of a failure in the future.

ST. FRANCIS X scored above 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 superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. Earnings can be retained by the credit union, expanding its capital cushion, or be used to deal with problematic loans, likely making the credit union better able to withstand financial trouble. Credit unions that are losing money, however, have less ability to do those things.

On Bankrate's earnings test, ST. FRANCIS X scored 16 out of a possible 30, above 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.