Safe and Sound

WHITE PLAINS P O EMPLOYEES

WHITE PLAINS, NY
4
Star Rating
WHITE PLAINS, NY-based WHITE PLAINS P O EMPLOYEES is an NCUA-insured credit union started in 1939. As of December 31, 2017, the credit union had assets of $1.2 million.

The credit union has amassed loans and leases worth $128,522. Its 108 members currently have $865,973 in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WHITE PLAINS P O EMPLOYEES 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 important criteria Bankrate used to grade American credit unions.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial fortitude, capital is useful. It works as a cushion against losses and provides protection for members during times of economic trouble for the credit union. When it comes to safety and soundness, more capital is better.

WHITE PLAINS P O EMPLOYEES exceeded the national average of 15.65 points on our test to measure capital adequacy, receiving a score of 30 out of a possible 30 points.

WHITE PLAINS P O EMPLOYEES's capitalization ratio of 30.00 percent in our test was better than the average for all credit unions, suggesting that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

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

Having extensive holdings of these kinds of assets suggests a credit union could have to use capital to cover losses, diminishing its equity cushion. Many of those assets are also likely to be in non-accrual status and thus aren't earning interest for the credit union, reducing earnings and elevating the chances of a future failure.

WHITE PLAINS P O EMPLOYEES did better than the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Earnings score

A credit union's ability to earn money has an effect on its long-term survivability. A credit union can retain its earnings, giving a boost to its capital buffer, or use them to deal with problematic loans, potentially making the credit union better prepared to withstand financial trouble. However, credit unions that are losing money have less ability to do those things.

On Bankrate's earnings test, WHITE PLAINS P O EMPLOYEES scored 0 out of a possible 30, falling short of the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, an indication 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.