Safe and Sound

THE WRIGHT

TOCCOA, GA
4
Star Rating
Started in 1963, THE WRIGHT is an NCUA-insured credit union headquartered in TOCCOA, GA. Regulatory filings show the credit union having assets of $12.8 million, as of December 31, 2017.

Thanks to the efforts of 5 full-time employees, the credit union has amassed loans and leases worth $4.3 million. THE WRIGHT's 1,514 members currently have $10.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, THE WRIGHT exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three important criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and provides protection for members when a credit union is experiencing economic instability. It follows then that when it comes to measuring an an institution's financial fortitude, capital is key. When it comes to safety and soundness, more capital is preferred.

On our test to measure capital adequacy, THE WRIGHT achieved a score of 24 out of a possible 30 points, beating the national average of 15.65.

THE WRIGHT's capitalization ratio of 24.00 percent in our test was better than the average for all credit unions, suggesting that it's more well prepared for financial trouble than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the effect of troubled assets, such as unpaid loans, on the credit union's loan loss reserves and overall capitalization.

Having a large number of these types of assets means a credit union could have to use capital to cover losses, reducing 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, pushing down earnings and increasing the chances of a future failure.

THE WRIGHT scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating the national average of 38.09.

Troubled assets made up 0.00 percent of THE WRIGHT's total assets in our test, below the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its safety and soundness. Earnings may be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, likely making the credit union more resilient in times of trouble. Credit unions that are losing money, however, have less ability to do those things.

THE WRIGHT scored 2 out of a possible 30 on Bankrate's test of earnings, failing to reach the national average of 10.11.

One indication that THE WRIGHT 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.