Safe and Sound

UKRAINIAN SELFRELIANCE OF WEST. PA.

Pittsburgh, PA
5
Star Rating
Started in 1973, UKRAINIAN SELFRELIANCE OF WEST. PA. is an NCUA-insured credit union headquartered in Pittsburgh, PA. The credit union holds assets of $6.6 million, according to December 31, 2017, regulatory filings.

The credit union holds loans and leases worth $2.2 million. Its 672 members currently have $5.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, UKRAINIAN SELFRELIANCE OF WEST. PA. exhibited a superior condition, earning a full 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 score American credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

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

On our test to measure capital adequacy, UKRAINIAN SELFRELIANCE OF WEST. PA. scored 22 out of a possible 30 points, better than the national average of 15.65.

UKRAINIAN SELFRELIANCE OF WEST. PA. had a capitalization ratio of 22.00 percent in our test, better than the average for all credit unions, suggesting that it's stronger than its peers.

Asset Quality Score

This test's purpose is to estimate how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as past-due mortgages.

A credit union with lots of these kinds of assets could eventually have to use capital to cover losses, diminishing its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning money, pushing down earnings and elevating the chances of a failure in the future.

UKRAINIAN SELFRELIANCE OF WEST. PA. scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating out the national average of 38.09.

The credit union's ratio of troubled assets was 0.00 percent in our test, lower than the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its long-term survivability. Earnings can be retained by the credit union, expanding its capital cushion, or be used to address problematic loans, potentially making the credit union better prepared to withstand economic trouble. Credit unions that are losing money, however, are less able to do those things.

UKRAINIAN SELFRELIANCE OF WEST. PA. did below-average on Bankrate's test of earnings, achieving a score of 10 out of a possible 30.

UKRAINIAN SELFRELIANCE OF WEST. PA. had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's doing better than its peers in this area.

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.