MEDISYS EMPLOYEES is an NCUA-insured credit union started in 1972 and currently based in JAMAICA, NY. The credit union holds assets of $27.5 million, according to December 31, 2017, regulatory filings.
Thanks to the efforts of 6 full-time employees, the credit union currently holds loans and leases worth $5.7 million. MEDISYS EMPLOYEES's 3,943 members currently have $24.6 million in shares with the credit union.
Overall, Bankrate believes that, as of December 31, 2017, MEDISYS EMPLOYEES exhibited a below-average condition, earning 2 out of 5 stars for safety and soundness. Here's a breakdown of how the credit union faired on the three key criteria Bankrate used to score U.S. credit unions.
Capital works as a cushion against losses and provides protection for members when a credit union is experiencing financial trouble. It follows then that when it comes to measuring an a credit union's financial fortitude, capital is valuable. When looking at safety and soundness, the more capital, the better.
MEDISYS EMPLOYEES 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.
MEDISYS EMPLOYEES appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 10.00 percent in our test, less than the average for all credit unions.
Bankrate uses this test to estimate the effect of troubled assets, such as past-due loans, on the credit union's loan loss reserves and overall capitalization.
Having large numbers of these types of assets may eventually force a credit union to use capital to absorb losses, cutting down on its buffer of equity. It also means that there are likely to be many assets that are in non-accrual status and thus aren't earning money, resulting in lower earnings and potentially more risk of a future failure.
MEDISYS EMPLOYEES scored 32 out of a possible 40 points on Bankrate's asset quality test, lower than the national average of 38.09.
The credit union's ratio of problem assets was 0.00 percent in our test, less than the national average and suggestive of greater financial strength than other credit unions.
How successful a credit union is at making money has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, potentially making the credit union better able to withstand financial trouble. Losses, on the other hand, take away from a credit union's ability to do those things.
MEDISYS EMPLOYEES underperformed the average on Bankrate's test of earnings, achieving a score of 0 out of a possible 30.
MEDISYS EMPLOYEES had an earnings ratio of 0.00 percent in our test, above the average for all credit unions, an indication that it's doing better than its peers in this area.