Safe and Sound

YOGAVILLE

Buckingham, VA
5
Star Rating
YOGAVILLE is a Buckingham, VA-based, NCUA-insured credit union started in 1983. As of December 31, 2017, the credit union held assets of $5.7 million.

Its 503 members currently have $4.7 million in shares with the credit union. With that footprint, the credit union holds loans and leases worth $2.6 million.

Overall, Bankrate believes that, as of December 31, 2017, YOGAVILLE exhibited a superior condition, earning a full 5 stars for safety and soundness. Here's a look at how the credit union faired on the three key criteria Bankrate used to grade U.S. credit unions on safety and soundness.

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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 provides protection for members when a credit union is experiencing economic trouble. Therefore, when it comes to measuring an an institution's financial resilience, capital is key. When looking at safety and soundness, the more capital, the better.

YOGAVILLE achieved a score of 26 out of a possible 30 points on our test to measure capital adequacy, better than the national average of 15.65.

YOGAVILLE appears to be more resilient than its peers, with a capitalization ratio of 26.00 percent in our test, higher than the average for all credit unions.

Asset Quality Score

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

Having extensive holdings of these kinds of assets suggests a credit union could have to use capital to cover losses, cutting down on 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, resulting in diminished earnings and potentially more risk of a failure in the future.

YOGAVILLE fell below the national average of 38.09 on Bankrate's asset quality test, racking up 36 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 superior financial strength compared to other credit unions.

Earnings score

A credit union's ability to earn money has an effect on its long-term survivability. Earnings may be retained by the credit union, boosting its capital cushion, or be used to address problematic loans, potentially making the credit union better able to withstand economic shocks. Obviously, credit unions that are losing money have less ability to do those things.

YOGAVILLE did below-average on Bankrate's earnings test, achieving a score of 10 out of a possible 30.

One indication that the credit union is beating 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.