June 17, 2019: BauerFinancial, Inc., Coral Gables, FL, the nation’s leading independent bank and credit union rating firm has newly released bank and credit union star-ratings (based on March 31, 2019 financial data) now available on its website, bauerfinancial.com. Star-ratings are assigned on a scale of zero to five-stars with five being the strongest and reflect the overall financial strength of the institution.
The number of banks reporting at March 31st was down 4.4% from the previous March, and this has been the trend for more than a decade. But, this quarter there were two new banks and several more are in varying stages of the de novo process. Similarly, the NCUA just chartered the first new federally credit union of 2019, but the country lost 3.5% of its credit unions over the previous 12 month period.
Based on first quarter financial reports, federally-insured banks and credit unions had a very positive 1st quarter. Only 1.3% of the total number of banks and 2% of credit unions are now relegated to Bauer’s Troubled and Problematic Reports (rated 2-Stars or below). That’s down from 1.8% and 2.6%, respectively, a year ago.
Bauer realizes, though, that is little consolation to the people who bank at those institutions. That’s why we make star-ratings available for free on our website. To find out the rating of your bank or credit union, or the rating of an institution that is merging with yours, simply visit bauerfinancial.com. Look up as many ratings as you like. Free really does mean Free. While you’re there, check out our CD rate pages to get the best CD rates in the country and read all about the current status of the banking industry.
It’s Simple. It’s Smart. And did we mention? It’s Free.
BauerFinancial has been providing the public with the knowledge they need to make informed decisions regarding their banking relationships since 1983.