Safe and Sound

WHITE ROCK

Philadelphia, PA
3
Star Rating
WHITE ROCK is a Philadelphia, PA-based, NCUA-insured credit union started in 1978. As of December 31, 2017, the credit union held assets of $836,868.

WHITE ROCK's 137 members currently have $749,360 in shares with the credit union. With that footprint, the credit union has amassed loans and leases worth $105,853.

Overall, Bankrate believes that, as of December 31, 2017, WHITE ROCK exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's a look at how the credit union did on the three key criteria Bankrate used to evaluate U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a valuable measurement of a credit union's financial fortitude. It works as a buffer against losses and as protection for members when a credit union is struggling financially. From a safety and soundness perspective, more capital is preferred.

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

WHITE ROCK's capitalization ratio of 8.00 percent in our test was below the average for all credit unions, suggesting that it could be less resilient in a crisis than its peers.

Asset Quality Score

This test's purpose is to estimate how the credit union's capitalization and allocated loan loss reserves could be affected by troubled assets, such as unpaid loans.

A credit union with extensive holdings of these kinds of assets may eventually have to use capital to absorb losses, diminishing its equity cushion. Many of those assets are also likely to be in non-accrual status and no longer earning interest for the credit union, reducing earnings and elevating the chances of a future failure.

WHITE ROCK scored above the national average of 38.09 on Bankrate's asset quality test, racking up 40 out of a possible 40 points .

Earnings score

A credit union's earnings performance 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, likely 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 test of earnings, WHITE ROCK scored 0 out of a possible 30, failing to reach the national average of 10.11.

One sign that WHITE ROCK is outperforming 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.