Safe and Sound

WHITEHALL

Columbus, OH
3
Star Rating
WHITEHALL is an NCUA-insured credit union founded in 1956 and currently based in Columbus, OH. Regulatory filings show the credit union having $18.3 million in assets, as of December 31, 2017.

With 3 full-time employees, the credit union holds loans and leases worth $7.8 million. WHITEHALL's 2,563 members currently have $16.2 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WHITEHALL exhibited a generally satisfactory condition, earning 3 out of 5 stars for safety and soundness. Here's an analysis of how the credit union faired on the three major criteria Bankrate used to evaluate U.S. credit unions.

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SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and as protection for members during times of financial instability for the credit union. It follows then that an institution's level of capital is a useful measurement of its financial fortitude. When looking at safety and soundness, the more capital, the better.

WHITEHALL received a score of 12 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, coming in below the national average of 15.65.

WHITEHALL 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

This test's purpose is to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by problem assets, such as past-due loans.

A credit union with lots of these kinds of assets may eventually be required to use capital to cover losses, cutting down on 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, resulting in depressed earnings and potentially more risk of a future failure.

WHITEHALL scored above the national average of 38.09 on Bankrate's asset quality test, 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, below the national average and potentially indicative of superior financial strength compared to other credit unions.

Earnings score

How successful a credit union is at earning money affects 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 more resilient in times of trouble. However, credit unions that are losing money have less ability to do those things.

WHITEHALL scored 2 out of a possible 30 on Bankrate's test of earnings, coming in below the national average of 10.11.

One indication that WHITEHALL is beating its peers in this area was its earnings ratio of 0.00 percent in our test, above 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.