Safe and Sound

WHITEFISH CREDIT UNION ASSOCIATION

Whitefish, MT
5
Star Rating
Started in 1934, WHITEFISH CREDIT UNION ASSOCIATION is an NCUA-insured credit union based in Whitefish, MT. As of December 31, 2017, the credit union had assets of $1.43 billion.

With 152 full-time employees, the credit union holds loans and leases worth $814.0 million. Its 54,981 members currently have $1.24 billion in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WHITEFISH CREDIT UNION ASSOCIATION exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three major criteria Bankrate used to evaluate American credit unions on safety and soundness.

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THE INSTITUTION'S SCORE

Capital Score

When it comes to measuring a credit union's financial fortitude, capital is essential. It acts as a cushion against losses and affords protection for members during periods of financial instability for the credit union. When it comes to safety and soundness, the higher the capital, the better.

WHITEFISH CREDIT UNION ASSOCIATION achieved a score of 16 out of a possible 30 points on our test to measure capital adequacy, above the national average of 15.65.

WHITEFISH CREDIT UNION ASSOCIATION's capitalization ratio of 16.00 percent in our test puts it right in line with the average for all credit unions.

Asset Quality Score

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

A credit union with lots of these kinds of assets may eventually be required to use capital to absorb losses, diminishing its cushion of equity. Many of those assets are also likely to be in non-accrual status and thus aren't earning money, resulting in depressed earnings and potentially more risk of a future failure.

WHITEFISH CREDIT UNION ASSOCIATION beat out the national average of 38.09 on Bankrate's test of asset quality, racking up 40 out of a possible 40 points .

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and 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 may be retained by the credit union, giving a boost to its capital cushion, or be used to address problematic loans, potentially making the credit union more resilient in times of trouble. However, credit unions that are losing money have less ability to do those things.

WHITEFISH CREDIT UNION ASSOCIATION did above-average on Bankrate's earnings test, achieving a score of 14 out of a possible 30.

One indication that WHITEFISH CREDIT UNION ASSOCIATION is outperforming its peers in this area was its earnings ratio of 0.00 percent in our test, better 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.