Safe and Sound

TURBINE

GREENVILLE, SC
4
Star Rating
TURBINE is an NCUA-insured credit union founded in 1976 and currently headquartered in GREENVILLE, SC. As of December 31, 2017, the credit union had assets of $28.0 million.

Thanks to the work of 7 full-time employees, the credit union has amassed loans and leases worth $13.9 million. TURBINE's 3,256 members currently have $23.9 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, TURBINE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union did on the three key criteria Bankrate used to evaluate American credit unions.

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 cushion against losses and as protection for members during times of financial trouble for the credit union. When looking at safety and soundness, the higher the capital, the better.

TURBINE racked up 18 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, above the national average of 15.65.

TURBINE appears to be more well prepared for financial trouble than its peers, with a capitalization ratio of 18.00 percent in our test, above the average for all credit unions.

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 past-due mortgages.

Having lots of these types of assets suggests a credit union could eventually 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 thus aren't earning money, decreasing earnings and increasing the chances of a future failure.

TURBINE scored 36 out of a possible 40 points on Bankrate's test of asset quality, lower than the national average of 38.09.

A lower-than-average ratio of problem assets of 0.00 percent in our test was 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 buffer, or be used to deal with problematic loans, likely making the credit union better prepared to withstand economic shocks. Credit unions that are losing money, however, have less ability to do those things.

TURBINE outperformed the average on Bankrate's earnings test, achieving a score of 14 out of a possible 30.

One indication that TURBINE is beating 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.