Safe and Sound

SUGARDALE EMPLOYEES

Canton, OH
3
Star Rating
Canton, OH-based SUGARDALE EMPLOYEES is an NCUA-insured credit union founded in 0. The credit union has $3.9 million in assets, according to December 31, 2017, regulatory filings.

The credit union has amassed loans and leases worth $1.5 million. SUGARDALE EMPLOYEES's 1,105 members currently have $3.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SUGARDALE EMPLOYEES exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three major criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a key measurement of a credit union's financial fortitude. It acts as a cushion against losses and as protection for members when a credit union is struggling financially. From a safety and soundness perspective, the higher the capital, the better.

SUGARDALE EMPLOYEES received a score of 8 out of a possible 30 points on our test to measure capital adequacy, coming in below the national average of 15.65.

SUGARDALE EMPLOYEES had a capitalization ratio of 8.00 percent in our test, below 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 problem assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

Having extensive holdings of these types of assets may eventually require a credit union to use capital to cover losses, cutting down on 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, decreasing earnings and increasing the risk of a failure in the future.

On Bankrate's asset quality test, SUGARDALE EMPLOYEES scored 40 out of a possible 40 points, above the national average of 38.09 points.

Troubled assets made up 0.00 percent of SUGARDALE EMPLOYEES'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 earning money affects its long-term survivability. A credit union can retain its earnings, boosting its capital buffer, or put them to work addressing problematic loans, likely making the credit union more resilient in tough times. However, credit unions that are losing money are less able to do those things.

SUGARDALE EMPLOYEES fell short of the national average on Bankrate's test of earnings, achieving a score of 2 out of a possible 30.

One sign that the credit union is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, higher than the average for all credit unions.

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.