Safe and Sound

WESTERN ILLINOIS SCHOOL EMPLOYEES

QUINCY, IL
5
Star Rating
Founded in 1936, WESTERN ILLINOIS SCHOOL EMPLOYEES is an NCUA-insured credit union based in QUINCY, IL. As of December 31, 2017, the credit union held assets of $23.1 million.

Thanks to the work of 2 full-time employees, the credit union has amassed loans and leases worth $10.0 million. WESTERN ILLINOIS SCHOOL EMPLOYEES's 1,741 members currently have $20.5 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WESTERN ILLINOIS SCHOOL EMPLOYEES exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union faired on the three important criteria Bankrate used to evaluate U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital is an essential measurement of a credit union's financial resilience. It works as a buffer against losses and as protection for members when a credit union is struggling financially. When looking at safety and soundness, more capital is better.

WESTERN ILLINOIS SCHOOL EMPLOYEES received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, below the national average of 15.65.

WESTERN ILLINOIS SCHOOL EMPLOYEES appears to be weaker than its peers in this area, with a capitalization ratio of 12.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

In this test, Bankrate tries to estimate the impact of troubled assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

Having a large number of these kinds of assets may eventually force a credit union to use capital to cover losses, diminishing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, pushing down earnings and elevating the chances of a failure in the future.

On Bankrate's test of asset quality, WESTERN ILLINOIS SCHOOL EMPLOYEES scored 40 out of a possible 40 points, beating the national average of 38.09 points.

A lower-than-average ratio of problem assets of 0.00 percent in our test was potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's profitability has an effect on its safety and soundness. Earnings can be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in tough times. Conversely, losses take away from a credit union's ability to do those things.

WESTERN ILLINOIS SCHOOL EMPLOYEES scored 18 out of a possible 30 on Bankrate's test of earnings, better than the national average of 10.11.

WESTERN ILLINOIS SCHOOL EMPLOYEES had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign 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.