Safe and Sound

ST. PATRICK S PARISH

Fairfield, VT
4
Star Rating
ST. PATRICK S PARISH is an NCUA-insured credit union founded in 1953 and currently based in Fairfield, VT. As of December 31, 2017, the credit union had assets of $530,194.

ST. PATRICK S PARISH's 309 members currently have $471,237 in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $408,979.

Overall, Bankrate believes that, as of December 31, 2017, ST. PATRICK S PARISH exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three major criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of a credit union's financial strength. It acts as a buffer against losses and affords protection for members during periods of financial trouble for the credit union. When it comes to safety and soundness, more capital is preferred.

ST. PATRICK S PARISH scored below the national average of 15.65 on our test to measure the adequacy of a credit union's capital, achieving a score of 14 out of a possible 30 points.

ST. PATRICK S PARISH's capitalization ratio of 14.00 percent in our test was less than the average for all credit unions, a sign that it could have a harder time weathering financial trouble than its peers.

Asset Quality Score

Bankrate uses this test to estimate 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 extensive holdings of these types of assets may eventually have to use capital to cover losses, cutting down on its buffer of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, diminishing earnings and increasing the risk of a future failure.

ST. PATRICK S PARISH scored 36 out of a possible 40 points on Bankrate's test of asset quality, coming in below the national average of 38.09.

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 has an effect on its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in tough times. Credit unions that are losing money, however, are less able to do those things.

ST. PATRICK S PARISH received below-average marks on Bankrate's test of earnings, achieving a score of 6 out of a possible 30.

ST. PATRICK S PARISH had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's outperforming 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.