Safe and Sound

THE COUNTY

Presque Isle, ME
5
Star Rating
THE COUNTY is an NCUA-insured credit union founded in 1956 and currently based in Presque Isle, ME. As of December 31, 2017, the credit union held assets of $230.6 million.

With 59 full-time employees, the credit union has amassed loans and leases worth $191.6 million. Its 18,654 members currently have $201.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, THE COUNTY exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three key criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of an institution's financial resilience. It works as a buffer against losses and as protection for members when a credit union is experiencing financial trouble. When it comes to safety and soundness, the higher the capital, the better.

THE COUNTY received a score of 14 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, failing to reach the national average of 15.65.

THE COUNTY appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 14.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

Having large numbers of these types of assets means a credit union may have to use capital to cover losses, reducing its cushion of equity. Many of those assets are also likely to be in non-accrual status and no longer earning money, decreasing earnings and elevating the risk of a failure in the future.

THE COUNTY scored above the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of THE COUNTY's total assets in our test, beneath the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance affects its safety and soundness. Earnings can be retained by the credit union, increasing its capital buffer, or be used to address problematic loans, likely making the credit union better able to withstand economic shocks. Obviously, credit unions that are losing money have less ability to do those things.

On Bankrate's test of earnings, THE COUNTY scored 18 out of a possible 30, beating the national average of 10.11.

One indication that THE COUNTY is beating its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.