Safe and Sound

ST. MARTIN DE PORRES PARISH

Chicago, IL
4
Star Rating
Founded in 1960, ST. MARTIN DE PORRES PARISH is an NCUA-insured credit union based in Chicago, IL. The credit union holds assets of $229,284, according to December 31, 2017, regulatory filings.

The credit union currently holds loans and leases worth $55,699. ST. MARTIN DE PORRES PARISH's 165 members currently have $204,287 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. MARTIN DE PORRES PARISH exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three key criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial strength, capital is valuable. It works as a cushion against losses and affords protection for members when a credit union is struggling financially. When it comes to safety and soundness, more capital is better.

On our test to measure capital adequacy, ST. MARTIN DE PORRES PARISH received a score of 12 out of a possible 30 points, lower than the national average of 15.65.

ST. MARTIN DE PORRES PARISH appears to be weaker than its peers in this area, with a capitalization ratio of 12.00 percent in our test, lower than the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to determine the effect of troubled assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with a large number of these types of assets could eventually be forced to use capital to cover losses, reducing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, reducing earnings and elevating the chances of a failure in the future.

ST. MARTIN DE PORRES PARISH scored 40 out of a possible 40 points on Bankrate's asset quality test, beating out the national average of 38.09.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

ST. MARTIN DE PORRES PARISH scored 8 out of a possible 30 on Bankrate's earnings test, falling short of the national average of 10.11.

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.