Safe and Sound

USX

Cranberry Twp, PA
2
Star Rating
USX is an NCUA-insured credit union founded in 1938 and currently headquartered in Cranberry Twp, PA. As of December 31, 2017, the credit union had assets of $222.7 million.

Thanks to the efforts of 95 full-time employees, the credit union has amassed loans and leases worth $161.7 million. Its 26,841 members currently have $194.6 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, USX exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's a look at how the credit union did on the three important criteria Bankrate used to evaluate U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members during times of economic trouble for the credit union. Therefore, an institution's level of capital is a key measurement of its financial strength. From a safety and soundness perspective, the more capital, the better.

USX racked up 16 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, beating the national average of 15.65.

USX's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the impact of problem assets, such as past-due mortgages, on the credit union's capitalization and allocated loan loss reserves.

Having a large number of these kinds of assets could eventually require a credit union to use capital to cover losses, cutting down on its buffer of equity. It also means that there are likely to be many assets that are 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.

On Bankrate's asset quality test, USX scored 32 out of a possible 40 points, below the national average of 38.09 points.

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

Earnings score

A credit union's ability to earn money has an effect on its long-term survivability. Earnings may be retained by the credit union, expanding its capital buffer, or be used to address problematic loans, likely making the credit union better prepared to withstand financial shocks. Obviously, credit unions that are losing money have less ability to do those things.

USX fell short of the national average on Bankrate's test of earnings, achieving a score of 0 out of a possible 30.

USX had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, suggesting that it's beating 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.