Safe and Sound

UNION BAPTIST GREENBURGH

White Plains, NY
4
Star Rating
Founded in 1965, UNION BAPTIST GREENBURGH is an NCUA-insured credit union based in White Plains, NY. As of December 31, 2017, the credit union had assets of $308,143.

UNION BAPTIST GREENBURGH's 285 members currently have $207,656 in shares with the credit union. With that footprint, the credit union holds loans and leases worth $42,754.

Overall, Bankrate believes that, as of December 31, 2017, UNION BAPTIST GREENBURGH exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union did on the three key criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of an institution's financial strength. It acts as a buffer against losses and as protection for members when a credit union is experiencing financial instability. When looking at safety and soundness, more capital is better.

UNION BAPTIST GREENBURGH beat out the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, racking up 30 out of a possible 30 points.

UNION BAPTIST GREENBURGH had a capitalization ratio of 30.00 percent in our test, better than the average for all credit unions, an indication that it's stronger than its peers.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as past-due mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having extensive holdings of these types of assets suggests a credit union may have to use capital to cover losses, cutting down on its equity buffer. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, decreasing earnings and elevating the chances of a failure in the future.

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

UNION BAPTIST GREENBURGH's ratio of problem assets was 0.00 percent in our test, below the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at making money affects its safety and soundness. Earnings can be retained by the credit union, giving a boost to its capital buffer, or be used to deal with problematic loans, potentially making the credit union more resilient in tough times. However, credit unions that are losing money have less ability to do those things.

UNION BAPTIST GREENBURGH fell behind the national average on Bankrate's earnings test, achieving a score of 0 out of a possible 30.

UNION BAPTIST GREENBURGH had an earnings ratio of 0.00 percent in our test, higher than the average for all credit unions, suggesting that it's running ahead of 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.