Safe and Sound

UNITED NATIONS

Long Island Cit, NY
4
Star Rating
LONG ISLAND CIT, NY-based UNITED NATIONS is an NCUA-insured credit union founded in 1947. Regulatory filings show the credit union having $5.11 billion in assets, as of December 31, 2017.

Members have $2.69 billion on deposit tended by 537 full-time employees. With that footprint, the credit union currently holds loans and leases worth $2.69 billion. Its 126,459 members currently have $4.59 billion in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, UNITED NATIONS exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three major criteria Bankrate used to grade U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of an institution's financial fortitude. It works as a bulwark against losses and provides protection for members during times of economic trouble for the credit union. When looking at safety and soundness, more capital is preferred.

UNITED NATIONS finished below the national average of 15.65 on our test to measure capital adequacy, scoring 10 out of a possible 30 points.

UNITED NATIONS's capitalization ratio of 10.00 percent in our test was less than the average for all credit unions, a sign that it could have a harder time weathering financial trouble than 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 mortgages.

A credit union with lots of these kinds of assets may eventually be forced to use capital to cover losses, cutting down on 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 chances of a failure in the future.

UNITED NATIONS scored 40 out of a possible 40 points on Bankrate's asset quality test, above the national average of 38.09.

Troubled assets made up 0.00 percent of the credit union's total assets in our test, below 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 affects its safety and soundness. Earnings may be retained by the credit union, increasing its capital cushion, or be used to address problematic loans, potentially making the credit union better able to withstand economic trouble. Conversely, losses diminish a credit union's ability to do those things.

UNITED NATIONS scored 18 out of a possible 30 on Bankrate's earnings test, beating out the national average of 10.11.

One sign that UNITED NATIONS is doing better than 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.