Safe and Sound

SUMA YONKERS

YONKERS, NY
4
Star Rating
YONKERS, NY-based SUMA YONKERS is an NCUA-insured credit union founded in 1964. The credit union holds $334.0 million in assets, according to December 31, 2017, regulatory filings.

With 29 full-time employees, the credit union currently holds loans and leases worth $213.5 million. SUMA YONKERS's 7,118 members currently have $285.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SUMA YONKERS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union did 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 is an important measurement of an institution's financial strength. It works as a bulwark against losses and as protection for members when a credit union is struggling financially. From a safety and soundness perspective, more capital is preferred.

SUMA YONKERS scored 20 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, better than the national average of 15.65.

SUMA YONKERS appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 20.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

This test's purpose is to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by problem assets, such as past-due loans.

A credit union with lots of these kinds of assets may eventually be required to use capital to cover losses, shrinking its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, reducing earnings and increasing the risk of a failure in the future.

SUMA YONKERS scored 36 out of a possible 40 points on Bankrate's asset quality test, below the national average of 38.09.

A lower-than-average ratio of troubled 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 earning money has an effect on its long-term survivability. A credit union can retain its earnings, expanding its capital buffer, or put them to work addressing problematic loans, potentially making the credit union better able to withstand financial shocks. Losses, on the other hand, reduce a credit union's ability to do those things.

SUMA YONKERS received below-average marks on Bankrate's earnings test, achieving a score of 6 out of a possible 30.

SUMA YONKERS had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting 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.