Safe and Sound

TEAMSTERS LOCAL 30

JEANNETTE, PA
2
Star Rating
JEANNETTE, PA-based TEAMSTERS LOCAL 30 is an NCUA-insured credit union started in 1956. As of December 31, 2017, the credit union had assets of $3.4 million.

Members have $2.3 million on deposit tended by 2 full-time employees. With that footprint, the credit union holds loans and leases worth $2.3 million. Its 869 members currently have $3.3 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, TEAMSTERS LOCAL 30 exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's a look at how the credit union faired on the three important criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of a credit union's financial fortitude. It acts as a cushion against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is better.

TEAMSTERS LOCAL 30 fell short of the national average of 15.65 on our test to measure capital adequacy, achieving a score of 0 out of a possible 30 points.

Asset Quality Score

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

A credit union with lots of these kinds of assets may eventually be required to use capital to cover losses, decreasing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, pushing down earnings and increasing the risk of a failure in the future.

TEAMSTERS LOCAL 30 fell short of the national average of 38.09 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

The credit union's ratio of troubled assets was 0.00 percent in our test, beneath the national average and suggestive of greater financial strength than other credit unions.

Earnings score

A credit union's ability to earn money affects its safety and soundness. A credit union can retain its earnings, boosting its capital buffer, or use them to deal with problematic loans, likely making the credit union more resilient in times of trouble. Losses, on the other hand, diminish a credit union's ability to do those things.

TEAMSTERS LOCAL 30 received below-average marks on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

The credit union had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's beating 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.