Safe and Sound

STREATOR ONIZED

Streator, IL
5
Star Rating
STREATOR ONIZED is a Streator, IL-based, NCUA-insured credit union founded in 1940. Regulatory filings show the credit union having $228.4 million in assets, as of December 31, 2017.

Thanks to the efforts of 80 full-time employees, the credit union currently holds loans and leases worth $166.2 million. Its 29,207 members currently have $196.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, STREATOR ONIZED exhibited a superior condition, earning a full 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 score U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital works as a cushion against losses and provides protection for members when a credit union is struggling financially. It follows then that a credit union's level of capital is a crucial measurement of its financial resilience. From a safety and soundness perspective, more capital is preferred.

On our test to measure capital adequacy, STREATOR ONIZED racked up 18 out of a possible 30 points, above the national average of 15.65.

STREATOR ONIZED's capitalization ratio of 18.00 percent in our test was higher than the average for all credit unions, a sign that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of problem assets, such as past-due mortgages, on the credit union's loan loss reserves and overall capitalization.

Having lots of these kinds of assets suggests a credit union may have to use capital to absorb losses, decreasing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in lower earnings and potentially more risk of a failure in the future.

On Bankrate's asset quality test, STREATOR ONIZED scored 40 out of a possible 40 points, beating out the national average of 38.09 points.

STREATOR ONIZED's ratio of problem assets was 0.00 percent 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 earning money has an effect on its long-term survivability. Earnings may be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. Obviously, credit unions that are losing money have less ability to do those things.

STREATOR ONIZED scored 14 out of a possible 30 on Bankrate's test of earnings, beating the national average of 10.11.

STREATOR ONIZED had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, a sign that it's doing better than 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.