Safe and Sound

WILLIAMSON COUNTY CATHOLIC

Herrin, IL
4
Star Rating
Herrin, IL-based WILLIAMSON COUNTY CATHOLIC is an NCUA-insured credit union started in 1952. The credit union has $2.0 million in assets, according to December 31, 2017, regulatory filings.

The credit union holds loans and leases worth $1.9 million. WILLIAMSON COUNTY CATHOLIC's 703 members currently have $1.8 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WILLIAMSON COUNTY CATHOLIC exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is an important measurement of an institution's financial strength. It acts as a bulwark against losses and affords protection for members when a credit union is experiencing economic trouble. When looking at safety and soundness, the higher the capital, the better.

On our test to measure capital adequacy, WILLIAMSON COUNTY CATHOLIC received a score of 10 out of a possible 30 points, coming in below the national average of 15.65.

WILLIAMSON COUNTY CATHOLIC had a capitalization ratio of 10.00 percent in our test, less than the average for all credit unions, a sign that it's on less solid financial footing than its peers.

Asset Quality Score

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

A credit union with a large number of these types of assets may eventually have to use capital to cover losses, shrinking 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 lower earnings and potentially more risk of a future failure.

WILLIAMSON COUNTY CATHOLIC scored 40 out of a possible 40 points on Bankrate's asset quality test, better than the national average of 38.09.

Earnings score

How successful a credit union is at making money affects its long-term survivability. Earnings may be retained by the credit union, boosting its capital buffer, or be used to deal with problematic loans, potentially making the credit union better able to withstand financial shocks. Losses, on the other hand, lessen a credit union's ability to do those things.

On Bankrate's earnings test, WILLIAMSON COUNTY CATHOLIC scored 18 out of a possible 30, better than the national average of 10.11.

One indication that WILLIAMSON COUNTY CATHOLIC is beating 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.