Safe and Sound

SYRACUSE POSTAL

SYRACUSE, NY
4
Star Rating
Founded in 1934, SYRACUSE POSTAL is an NCUA-insured credit union headquartered in SYRACUSE, NY. The credit union holds $14.0 million in assets, according to December 31, 2017, regulatory filings.

Thanks to the efforts of 2 full-time employees, the credit union holds loans and leases worth $2.4 million. Its 1,512 members currently have $12.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, SYRACUSE POSTAL exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three important criteria Bankrate used to score American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

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

On our test to measure capital adequacy, SYRACUSE POSTAL received a score of 8 out of a possible 30 points, falling short of the national average of 15.65.

SYRACUSE POSTAL appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 8.00 percent in our test, less than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to determine the effect of troubled assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having extensive holdings of these kinds of assets may eventually require a credit union to use capital to cover losses, shrinking its equity buffer. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, decreasing earnings and increasing the chances of a future failure.

SYRACUSE POSTAL beat out the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

A below-average ratio of problem 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 affects its safety and soundness. A credit union can retain its earnings, boosting its capital buffer, or use them to address problematic loans, likely making the credit union better able to withstand economic shocks. Obviously, credit unions that are losing money are less able to do those things.

SYRACUSE POSTAL exceeded the national average on Bankrate's test of earnings, achieving a score of 14 out of a possible 30.

One sign that the credit union is doing better than its peers in this area was its earnings ratio of 0.00 percent in our test, better 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.