Safe and Sound

WARE COUNTY SCHOOL EMPLOYEES

WAYCROSS, GA
4
Star Rating
WARE COUNTY SCHOOL EMPLOYEES is an NCUA-insured credit union founded in 1962 and currently based in WAYCROSS, GA. Regulatory filings show the credit union having $4.3 million in assets, as of December 31, 2017.

Its 647 members currently have $3.9 million in shares with the credit union. With that footprint, the credit union currently holds loans and leases worth $2.5 million.

Overall, Bankrate believes that, as of December 31, 2017, WARE COUNTY SCHOOL EMPLOYEES exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Here's a look at how the credit union did on the three major criteria Bankrate used to score U.S. credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of an institution's financial strength. It acts as a buffer against losses and affords protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is preferred.

On our test to measure capital adequacy, WARE COUNTY SCHOOL EMPLOYEES received a score of 10 out of a possible 30 points, coming in below the national average of 15.65.

WARE COUNTY SCHOOL EMPLOYEES appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 10.00 percent in our test, below the average for all credit unions.

Asset Quality Score

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

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

On Bankrate's asset quality test, WARE COUNTY SCHOOL EMPLOYEES scored 40 out of a possible 40 points, better than the national average of 38.09 points.

Earnings score

How successful a credit union is at making money affects its long-term survivability. A credit union can retain its earnings, increasing its capital cushion, or put them to work addressing problematic loans, potentially making the credit union better able to withstand economic trouble. Credit unions that are losing money, however, are less able to do those things.

WARE COUNTY SCHOOL EMPLOYEES exceeded the national average on Bankrate's test of earnings, achieving a score of 12 out of a possible 30.

One sign that the credit union is beating 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.