Safe and Sound

ST. GREGORY PARISH

CHICAGO, IL
4
Star Rating
ST. GREGORY PARISH is a CHICAGO, IL-based, NCUA-insured credit union dating back to 1950. The credit union has assets of $333,856, according to December 31, 2017, regulatory filings.

The credit union holds loans and leases worth $69,475. ST. GREGORY PARISH's 167 members currently have $301,151 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. GREGORY PARISH exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at 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 acts as a bulwark against losses and as protection for members when a credit union is experiencing financial instability. It follows then that a credit union's level of capital is a crucial measurement of its financial resilience. From a safety and soundness perspective, more capital is preferred.

ST. GREGORY PARISH received a score of 10 out of a possible 30 points on our test to measure capital adequacy, below the national average of 15.65.

ST. GREGORY PARISH had a capitalization ratio of 10.00 percent in our test, worse than the average for all credit unions, suggesting that it's on less solid financial footing than its peers.

Asset Quality Score

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

Having large numbers of these kinds of assets could eventually force a credit union to use capital to cover losses, cutting down on its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in reduced earnings and potentially more risk of a future failure.

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

Earnings score

How successful a credit union is at earning money affects its long-term survivability. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to deal with problematic loans, potentially making the credit union better prepared to withstand financial trouble. However, credit unions that are losing money are less able to do those things.

On Bankrate's earnings test, ST. GREGORY PARISH scored 12 out of a possible 30, beating out the national average of 10.11.

One sign that ST. GREGORY PARISH is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, better 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.