Safe and Sound

WAUNA

CLATSKANIE, OR
4
Star Rating
CLATSKANIE, OR-based WAUNA is an NCUA-insured credit union started in 1967. Regulatory filings show the credit union having assets of $243.7 million, as of December 31, 2017.

With 94 full-time employees, the credit union currently holds loans and leases worth $193.4 million. Its 25,312 members currently have $204.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WAUNA 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 important criteria Bankrate used to evaluate American credit unions.

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SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and affords protection for members when a credit union is struggling financially. Therefore, when it comes to measuring an a credit union's financial stability, capital is useful. When it comes to safety and soundness, the more capital, the better.

WAUNA fell short of the national average of 15.65 on our test to measure capital adequacy, receiving a score of 8 out of a possible 30 points.

WAUNA appears to be weaker than its peers in this area, with a capitalization ratio of 8.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the effect of troubled assets, such as unpaid mortgages, on the credit union's capitalization and allocated loan loss reserves.

A credit union with extensive holdings of these types of assets could eventually be forced to use capital to absorb losses, diminishing its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, reducing earnings and increasing the risk of a future failure.

WAUNA scored below the national average of 38.09 on Bankrate's test of asset quality, racking up 36 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, below 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. 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 financial trouble. However, credit unions that are losing money have less ability to do those things.

WAUNA scored 16 out of a possible 30 on Bankrate's earnings test, exceeding the national average of 10.11.

The 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.