Safe and Sound

XPLORE

Metairie, LA
4
Star Rating
XPLORE is an NCUA-insured credit union founded in 1978 and currently headquartered in Metairie, LA. As of December 31, 2017, the credit union had assets of $142.7 million.

With 45 full-time employees, the credit union holds loans and leases worth $83.7 million. XPLORE's 9,204 members currently have $127.4 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, XPLORE exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for an analysis of how the credit union faired on the three important criteria Bankrate used to grade American credit unions.

WHAT IS
SAFE AND SOUND?

Find out

THE INSTITUTION'S SCORE

Capital Score

Capital acts as a cushion against losses and as protection for members during periods of economic trouble for the credit union. Therefore, when it comes to measuring an a credit union's financial strength, capital is valuable. From a safety and soundness perspective, more capital is preferred.

XPLORE received a score of 10 out of a possible 30 points on our test to measure the adequacy of a credit union's capital, falling short of the national average of 15.65.

XPLORE's capitalization ratio of 10.00 percent in our test was below the average for all credit unions, a sign that it could be less resilient in a crisis than its peers.

Asset Quality Score

This test is intended 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 unpaid mortgages.

Having lots of these types of assets suggests a credit union could eventually have to use capital to cover losses, decreasing its cushion of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning interest for the credit union, pushing down earnings and elevating the chances of a failure in the future.

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

Troubled assets made up 0.00 percent of the credit union's total assets in our test, beneath the national average and suggestive of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money affects its long-term survivability. Earnings can be retained by the credit union, expanding its capital cushion, or be used to address problematic loans, likely making the credit union more resilient in tough times. Credit unions that are losing money, however, are less able to do those things.

On Bankrate's test of earnings, XPLORE scored 6 out of a possible 30, failing to reach the national average of 10.11.

XPLORE had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign that it's beating its peers in this area.

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.