Safe and Sound

VIGO COUNTY

Terre Haute, IN
2
Star Rating
VIGO COUNTY is an NCUA-insured credit union founded in 1935 and currently headquartered in Terre Haute, IN. The credit union has assets of $35.2 million, according to December 31, 2017, regulatory filings.

Members have $25.4 million on deposit tended by 11 full-time employees. With that footprint, the credit union currently holds loans and leases worth $25.4 million. VIGO COUNTY's 9,612 members currently have $32.8 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, VIGO COUNTY exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three key criteria Bankrate used to grade U.S. credit unions.

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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 affords protection for members when a credit union is experiencing economic trouble. From a safety and soundness perspective, more capital is better.

VIGO COUNTY came in below the national average of 15.65 on our test to measure capital adequacy, scoring 4 out of a possible 30 points.

VIGO COUNTY's capitalization ratio of 4.00 percent in our test was below the average for all credit unions, an indication that it's on less solid financial footing than its peers.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of problem assets, such as unpaid mortgages, on the credit union's loan loss reserves and overall capitalization.

Having large numbers of these kinds of assets suggests a credit union could eventually have to use capital to absorb losses, reducing its equity buffer. 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, decreasing earnings and elevating the chances of a future failure.

VIGO COUNTY fell below the national average of 38.09 on Bankrate's asset quality test, racking up 24 out of a possible 40 points .

VIGO COUNTY's ratio of troubled assets was 0.00 percent in our test, lower than the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at earning money has an effect on its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or put them to work addressing 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.

On Bankrate's test of earnings, VIGO COUNTY scored 16 out of a possible 30, beating out the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, suggesting that it's outperforming 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.