CHARLOTTE, N.C.–Denver Fire Department CU is the healthiest credit union in the country according to a new report that ranks the 200 healthiest banks and credit unions in the country.
The analysis, released by DepositAccounts.com, uses what the company says is its own proprietary formula to assess the financial health of all federally insured banks and credit unions in the United States. Among the factors used to arrive at its conclusions are an institution’s Texas Ratio (which compares the total value of at-risk loans to the total value of funds the financial institution has on hand to cover these loans), deposit growth and capitalization.
The $151-million Denver Fire Department FCU was followed on DepositAccounts.com’s Safest List by Cascade Community CU in Roseburg, Ore., Coverbelt CU in Wausau, Wis., F&A FCU in Monterey Park, Calif., and Clark County CU in Las Vegas.
The remaining top 10 can be seen in the graphic on this page.
The DepositAccounts.com website also lists the worst banks and credit unions according to their Texas Ratio. It names Melrose CU in Briarwood, N.Y., as most at risk. Melrose Credit Union, which is primarily at taxi medallion lender, has been operated under conservatorship by NCUA since February of 2017. Many of the other CUs identified on the least healthy list are small, although there are several of more than $100 million in assets.
A listing of what the company identifies as the top 200 most and least healthy credit unions can be found here.