While the nation’s 7,500 credit unions generally offer lower cost banking services to consumers, 2,573, or 34.3%, are included on Weiss Ratings’ “Weakest List,” while only 760, or 10.1%, are on the “Strongest List.”
Weiss Ratings, the nation’s independent provider of bank and insurance company ratings, has now also begun issuing financial strength ratings on the nation’s credit unions to help consumers avoid high-risk institutions and find those that are most likely to survive even in difficult times.
“On the heels of the worst year for bank failures since 1992, plus the latest round of new bank fees for everyday services, many consumers may consider credit unions an attractive alternative,” commented Martin D. Weiss, president of Weiss Ratings. “But consumers should avoid the weakest institutions and seek to do business strictly with the strongest.”
Following a pattern similar to its bank and thrift ratings, Weiss Ratings’ new credit union ratings analyze each institution’s capitalization, asset quality, profitability, and liquidity to determine financial strength.
The largest credit unions on the Weiss Ratings Weakest List (receiving ratings of D+ or lower) are:
| Weakest U.S. Credit Unions (with $2 billion or more in assets) | |||
| Credit Union | Location |
Weiss Financial Strength Rating |
Assets ($bil) |
| Suncoast Schools FCU | Tampa, FL | D- | 5.0 |
| America First FCU | Riverdale, UT | D | 5.0 |
| Kinecta FCU | Manhattan Beach, CA | D+ | 3.5 |
| Space Coast CU | Melbourne, FL | D | 3.1 |
| Desert Schools FCU | Phoenix, AZ | D- | 2.9 |
| Mountain America FCU | West Jordan, UT | D+ | 2.8 |
| Wescom Central CU | Pasadena, CA | E- | 2.7 |
Weiss Financial Strength Rating: A=Excellent; B=Good; C=Fair; D=Weak; E=Very Weak
The largest credit unions on Weiss Ratings’ Strongest List (receiving a B+ or better) are:
| Strongest U.S. Credit Unions (with $4 billion or more in assets) | |||
| Credit Union | Location |
Weiss Financial Strength Rating |
Assets ($bil) |
| Navy FCU | Vienna, VA | B+ | 42.9 |
| Alliant CU | Chicago, IL | B+ | 7.5 |
| Star One CU | Sunnyvale, CA | A+ | 5.3 |
| San Diego County CU | San Diego, CA | A- | 5.0 |
| Citizens Equity First CU | Peoria, IL | A- | 4.4 |
| Randolph-Brooks FCU | Live Oak, TX | A+ | 4.1 |
Weiss Financial Strength Rating: A=Excellent; B=Good; C=Fair; D=Weak; E=Very Weak
Weiss Ratings’ complete lists of the strongest and weakest credit unions are available at www.weissratings.com/creditunionlists.
About Weiss Ratings
Weiss Ratings, the nation’s independent provider of bank, credit union and insurance company ratings, accepts no payments for its ratings from rated institutions. It also distributes independent ratings on the shares of thousands of publicly traded companies, mutual funds, closed-end funds and ETFs.
Sincerely,
The Weiss Ratings Team
{ 5 comments }
Martin enjoying your new book and wanted to say thank you, also praying your Son is fine in Japan
Did I miss something? Would be useful to have a link to the full list of Weiss ratings of FCU’s. For me it’s the NRL FCU, Oxon Hill, MD (not the Navy FCU). Thanks.
I am 78 years old and have been out of the stock market for years. My assets are all in cash and have gone down quite a bit with low interest rates and family emergencies being the largest drain. Having joined your service only today I wonder if I have made a mistake. Please comment if my perception of you being primarily a service for active investors is incorrect.
HQXuvk Touchdown! That’s a really cool way of putting it!
SO we are in a big mess. Is there a way to escape the pain of huge losses?
From what I see with my limited knowledge is that the federal government officials (elected and appointed) do not see the future. EX: the main leader with his polish as a orator and persuasion have “snowed” our new team of congressmen or they are not aversed to deal with clever manipulations and the hovering of the old electorates who have been a :”ixture” of Washington and hard to see thru their minupulations while ROME Burns. I AM DESPERATE TO GET THIS DEBT PUT TO ITS DEATH. WE NEED SPECIFIC GUIDELINES AS AN INVESTOR. Thank you.