Safe and Sound

ST FRANCIS

GREENVILLE, SC
5
Star Rating
ST FRANCIS is an NCUA-insured credit union started in 1966 and currently headquartered in GREENVILLE, SC. As of December 31, 2017, the credit union had assets of $8.9 million.

Members have $5.3 million on deposit tended by 5 full-time employees. With that footprint, the credit union currently holds loans and leases worth $5.3 million. ST FRANCIS's 2,248 members currently have $7.2 million in shares with the credit union.

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

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a buffer against losses and provides protection for members when a credit union is struggling financially. It follows then that a credit union's level of capital is a crucial measurement of its financial fortitude. When it comes to safety and soundness, more capital is preferred.

ST FRANCIS did better than the national average of 15.65 points on our test to measure capital adequacy, racking up 30 out of a possible 30 points.

ST FRANCIS had a capitalization ratio of 30.00 percent in our test, higher than the average for all credit unions, suggesting that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of troubled assets, such as past-due mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having a large number of these kinds of assets suggests a credit union may eventually have to use capital to cover losses, decreasing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning money, decreasing earnings and elevating the risk of a future failure.

ST FRANCIS scored 40 out of a possible 40 points on Bankrate's asset quality test, above the national average of 38.09.

Troubled assets made up 0.00 percent of ST FRANCIS's total assets in our test, beneath the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's profitability 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, potentially making the credit union better prepared to withstand economic shocks. Conversely, losses diminish a credit union's ability to do those things.

ST FRANCIS did above-average on Bankrate's earnings test, achieving a score of 18 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's running ahead of 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.