Safe and Sound

VIA CREDIT UNION

Marion, IN
4
Star Rating
VIA CREDIT UNION is a Marion, IN-based, NCUA-insured credit union that opened its doors in 1936. The credit union holds assets of $341.5 million, according to December 31, 2017, regulatory filings.

With 86 full-time employees, the credit union holds loans and leases worth $235.6 million. Its 30,032 members currently have $293.7 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, VIA CREDIT UNION exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's an analysis of how the credit union did on the three major criteria Bankrate used to evaluate American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of an institution's financial resilience. It works as a buffer against losses and provides protection for members when a credit union is struggling financially. From a safety and soundness perspective, the higher the capital, the better.

VIA CREDIT UNION beat out the national average of 15.65 points on our test to measure the adequacy of a credit union's capital, achieving a score of 16 out of a possible 30 points.

VIA CREDIT UNION had a capitalization ratio of 16.00 percent in our test, equal to the average for all credit unions, suggesting that it's running neck and neck with its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's reserves set aside to cover loan losses, as well as overall capitalization could be affected by problem assets, such as past-due loans.

A credit union with a large number of these types of assets may eventually have to use capital to absorb losses, cutting down on its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning interest for the credit union, resulting in depressed earnings and potentially more risk of a failure in the future.

VIA CREDIT UNION scored 40 out of a possible 40 points on Bankrate's test of asset quality, better than the national average of 38.09.

VIA CREDIT UNION's ratio of problem assets was 0.00 percent in our test, less than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its long-term survivability. A credit union can retain its earnings, boosting its capital buffer, or use them to deal with problematic loans, potentially making the credit union better able to withstand economic shocks. Conversely, losses lessen a credit union's ability to do those things.

VIA CREDIT UNION received above-average marks on Bankrate's test of earnings, achieving a score of 12 out of a possible 30.

VIA CREDIT UNION had an earnings ratio of 0.00 percent in our test, higher 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.