AssetPreserver News

Are you worried if your bank, credit union, or thrift is safe? See how your bank, thrift, or credit union rates with Bankrate.

Each entity is ranked by Bankrate’s proprietary Safe & Sound system based on financial strength and stability. 22 tests are applied to a financial institution to measure:

• Capital adequacy
• Asset quality
• Profitability
• Liquidity

An institution is rated from 5 stars (superior) to 1 star (lowest rating). Along with the star rating, a memo, and financial statement are available.

The memo includes institutiona highlights which shows information such as loan amounts, deposits, and profitibility. Early warning signs, if any, are included so you can keep an eye on.

The financial statement has a summary of important measurements such as net income, earnings,  assets, liquidity, and asset quality.

Though not an exclusive piece of information to make a banking decision on, it is very helpful to see where your bank rates. Note that these rankings are updated quarterly.

Another check is the one to the FDIC in which you can tell if your bank is FDIC insured. You can learn how deposit insurance works, find out whether your bank is FDIC insured, and other important tasks.