Safe and Sound

TOLEDO FIRE FIGHTERS

Toledo, OH
4
Star Rating
TOLEDO FIRE FIGHTERS is a Toledo, OH-based, NCUA-insured credit union started in 1940. The credit union has assets of $33.3 million, according to December 31, 2017, regulatory filings.

Members have $13.8 million on deposit tended by 7 full-time employees. With that footprint, the credit union has amassed loans and leases worth $13.8 million. TOLEDO FIRE FIGHTERS's 2,666 members currently have $29.0 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, TOLEDO FIRE FIGHTERS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three important criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring an institution's financial fortitude, capital is key. It acts as a buffer against losses and provides protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is better.

TOLEDO FIRE FIGHTERS beat out the national average of 15.65 points on our test to measure capital adequacy, racking up 16 out of a possible 30 points.

TOLEDO FIRE FIGHTERS had a capitalization ratio of 16.00 percent in our test, equal to the average for all credit unions, an indication that it's running neck and neck with its peers.

Asset Quality Score

This test is intended to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid loans.

A credit union with a large number of these kinds of assets may eventually be required to use capital to cover losses, shrinking its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, reducing earnings and elevating the risk of a future failure.

TOLEDO FIRE FIGHTERS scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

TOLEDO FIRE FIGHTERS's ratio of problem assets was 0.00 percent in our test, below the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money affects its long-term survivability. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

On Bankrate's earnings test, TOLEDO FIRE FIGHTERS scored 6 out of a possible 30, below the national average of 10.11.

One sign that TOLEDO FIRE FIGHTERS is doing better than 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.