Safe and Sound

ST. JOSEPH MEDICAL CENTER MD

Towson, MD
4
Star Rating
Towson, MD-based ST. JOSEPH MEDICAL CENTER MD is an NCUA-insured credit union started in 1968. Regulatory filings show the credit union having $15.5 million in assets, as of December 31, 2017.

The credit union has amassed loans and leases worth $6.5 million. ST. JOSEPH MEDICAL CENTER MD's 1,900 members currently have $13.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. JOSEPH MEDICAL CENTER MD exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union did on the three important criteria Bankrate used to evaluate 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 provides protection for members during times of economic instability for the credit union. Therefore, an institution's level of capital is a valuable measurement of its financial resilience. When looking at safety and soundness, more capital is better.

ST. JOSEPH MEDICAL CENTER MD exceeded the national average of 15.65 points on our test to measure capital adequacy, scoring 18 out of a possible 30 points.

ST. JOSEPH MEDICAL CENTER MD had a capitalization ratio of 18.00 percent in our test, above the average for all credit unions, a sign 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 loans, on the credit union's loan loss reserves and overall capitalization.

Having extensive holdings of these types of assets could eventually require a credit union to use capital to cover losses, reducing 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 diminished earnings and potentially more risk of a failure in the future.

On Bankrate's test of asset quality, ST. JOSEPH MEDICAL CENTER MD scored 40 out of a possible 40 points, beating the national average of 38.09 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

A credit union's ability to earn money has an effect on its long-term survivability. Earnings can be retained by the credit union, increasing its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money have less ability to do those things.

On Bankrate's test of earnings, ST. JOSEPH MEDICAL CENTER MD scored 8 out of a possible 30, below the national average of 10.11.

ST. JOSEPH MEDICAL CENTER MD had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's beating 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.