Safe and Sound

WYMAR

Geismar, LA
5
Star Rating
WYMAR is an NCUA-insured credit union started in 1958 and currently headquartered in GEISMAR, LA. Regulatory filings show the credit union having $104.7 million in assets, as of December 31, 2017.

With 14 full-time employees, the credit union currently holds loans and leases worth $68.8 million. Its 4,216 members currently have $88.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, WYMAR exhibited a superior condition, earning a full 5 stars for safety and soundness. Keep reading for a breakdown of how the credit union did on the three major criteria Bankrate used to grade U.S. credit unions on safety and soundness.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a bulwark against losses and provides protection for members during periods of financial trouble for the credit union. Therefore, when it comes to measuring an an institution's financial strength, capital is important. When looking at safety and soundness, more capital is better.

On our test to measure the adequacy of a credit union's capital, WYMAR racked up 20 out of a possible 30 points, exceeding the national average of 15.65.

WYMAR had a capitalization ratio of 20.00 percent in our test, above the average for all credit unions, suggesting that it could be more resilient in a crisis than its peers.

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 troubled assets, such as unpaid mortgages.

Having lots of these types of assets may eventually require a credit union to use capital to cover losses, reducing its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, resulting in reduced earnings and potentially more risk of a future failure.

On Bankrate's test of asset quality, WYMAR scored 40 out of a possible 40 points, above the national average of 38.09 points.

The credit union's ratio of troubled assets was 0.00 percent in our test, beneath the national average and suggestive of superior financial strength compared to other credit unions.

Earnings score

A credit union's ability to earn money affects its safety and soundness. A credit union can retain its earnings, giving a boost to its capital cushion, or put them to work addressing problematic loans, potentially making the credit union more resilient in times of trouble. Losses, on the other hand, lessen a credit union's ability to do those things.

On Bankrate's test of earnings, WYMAR scored 14 out of a possible 30, above the national average of 10.11.

One indication that the credit union is running ahead of 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.