Safe and Sound

TRUMBULL

Trumbull, CT
3
Star Rating
TRUMBULL is an NCUA-insured credit union started in 1974 and currently based in Trumbull, CT. The credit union has $3.4 million in assets, according to December 31, 2017, regulatory filings.

Its 545 members currently have $3.1 million in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $717,799.

Overall, Bankrate believes that, as of December 31, 2017, TRUMBULL exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of a credit union's financial resilience. It works as a cushion against losses and as protection for members during periods of financial instability for the credit union. When it comes to safety and soundness, the more capital, the better.

TRUMBULL received a score of 10 out of a possible 30 points on our test to measure capital adequacy, coming in below the national average of 15.65.

TRUMBULL had a capitalization ratio of 10.00 percent in our test, below the average for all credit unions, suggesting that it could be less resilient in a crisis than its peers.

Asset Quality Score

This test is intended to try to understand how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as past-due mortgages.

Having a large number of these types of assets means a credit union may have to use capital to absorb losses, decreasing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, reducing earnings and elevating the chances of a failure in the future.

On Bankrate's asset quality test, TRUMBULL scored 40 out of a possible 40 points, exceeding the national average of 38.09 points.

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

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. A credit union can retain its earnings, boosting its capital cushion, or put them to work addressing problematic loans, likely making the credit union better able to withstand economic trouble. Losses, on the other hand, take away from a credit union's ability to do those things.

TRUMBULL scored 2 out of a possible 30 on Bankrate's test of earnings, less than the national average of 10.11.

One indication that TRUMBULL is running ahead of 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.