Safe and Sound

ST. VINCENT'S MEDICAL CENTER

Bridgeport, CT
3
Star Rating
Founded in 1971, ST. VINCENT'S MEDICAL CENTER is an NCUA-insured credit union based in Bridgeport, CT. Regulatory filings show the credit union having $20.5 million in assets, as of December 31, 2017.

Thanks to the efforts of 4 full-time employees, the credit union currently holds loans and leases worth $4.7 million. Its 2,279 members currently have $14.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. VINCENT'S MEDICAL CENTER exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three major 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 is a useful measurement of an institution's financial strength. It works as a cushion against losses and provides protection for members during periods of financial trouble for the credit union. When it comes to safety and soundness, more capital is better.

On our test to measure the adequacy of a credit union's capital, ST. VINCENT'S MEDICAL CENTER received a score of 10 out of a possible 30 points, lower than the national average of 15.65.

ST. VINCENT'S MEDICAL CENTER had a capitalization ratio of 10.00 percent in our test, less than the average for all credit unions, a sign that it's weaker 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.

Having a large number of these types of assets suggests a credit union could eventually have to use capital to absorb losses, diminishing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, resulting in lower earnings and potentially more risk of a failure in the future.

On Bankrate's asset quality test, ST. VINCENT'S MEDICAL CENTER scored 40 out of a possible 40 points, better than the national average of 38.09 points.

Troubled assets made up 0.00 percent of ST. VINCENT'S MEDICAL CENTER's total assets in our test, less than the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. A credit union can retain its earnings, increasing its capital buffer, or put them to work addressing problematic loans, potentially making the credit union better able to withstand economic shocks. Credit unions that are losing money, however, are less able to do those things.

ST. VINCENT'S MEDICAL CENTER received below-average marks on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

ST. VINCENT'S MEDICAL CENTER had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication 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.