Safe and Sound

ST. PIUS X CHURCH

ROCHESTER, NY
4
Star Rating
ROCHESTER, NY-based ST. PIUS X CHURCH is an NCUA-insured credit union started in 1967. The credit union holds $80.1 million in assets, according to December 31, 2017, regulatory filings.

Thanks to the efforts of 14 full-time employees, the credit union currently holds loans and leases worth $63.5 million. Its 6,358 members currently have $72.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. PIUS X CHURCH 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 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 provides protection for members during times of economic trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial resilience, capital is key. When looking at safety and soundness, more capital is better.

On our test to measure capital adequacy, ST. PIUS X CHURCH received a score of 10 out of a possible 30 points, lower than the national average of 15.65.

ST. PIUS X CHURCH had a capitalization ratio of 10.00 percent in our test, lower than the average for all credit unions, suggesting that it's less well prepared for financial trouble than its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as unpaid loans.

A credit union with lots of these types of assets could eventually have to use capital to absorb losses, reducing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in reduced earnings and potentially more risk of a failure in the future.

ST. PIUS X CHURCH scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating the national average of 38.09.

ST. PIUS X CHURCH's ratio of problem assets was 0.00 percent in our test, beneath the national average and suggestive of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or use them to deal with problematic loans, potentially making the credit union more resilient in tough times. Conversely, losses diminish a credit union's ability to do those things.

ST. PIUS X CHURCH exceeded the national average on Bankrate's earnings test, achieving a score of 16 out of a possible 30.

ST. PIUS X CHURCH had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, a sign 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.