Two credit unions get downgrades

Two credit unions get downgrades

Two area credit unions were downgraded in BauerFinancial's latest ratings, based on regulatory data from Sept. 30.

Community Healthcare Credit Union of Urbana was downgraded from 3-star ("adequate") to 2-star ("problematic").

That credit union merged Oct. 1 into Rantoul-based Community Plus Federal Credit Union, which has a 4-star ("excellent") rating.Community Healthcare's members are now served primarily by the Community Plus office in Champaign.

Also downgraded in the latest ratings was the Route 1 Credit Union in Paris, which dropped from a 4-star to 3-star rating.

The other 20 area credit unions rated by BauerFinancial retained their ratings from the quarter that ended June 30.

Seven other credit unions were not rated, either because they are too small or because they are insured privately, rather than by the National Credit Union Administration.

BauerFinancial bases its ratings on capital ratios, profitability trends, levels of delinquent loans, charge-offs and repossessed assets, liquidity, historical data and supervisory actions by regulatory agencies.

Here are BauerFinancial's ratings for area credit unions based on Sept. 30 data:

5-star ('superior')

12 credit unions

Area Educational CU, Mattoon; Blaw-Knox CU, Mattoon; Carle Employees Federal CU, Urbana; Central Illinois CU, Champaign; Champaign Municipal Employees CU, Champaign; Education Personnel Federal CU, Danville; Landmark CU, Danville; Lauhoff Employees CU, Danville; MidWest America Federal CU, Fort Wayne, Ind.; New Horizon CU, Danville; Paris Hi-Way CU, Paris; Tee-Pak CU, Danville.

4-star ('excellent')

Seven credit unions

Champaign County School Employees CU, Champaign; Clifford-Jacobs Employees CU, Champaign; Community Plus Federal CU, Rantoul; First Illinois CU, Danville; Quorum Federal CU, New York; University of Illinois Employees CU, Champaign; Urbana Municipal Employees CU, Urbana.

3-star ('adequate')

Two credit unions

Danville Consolidated CU, Danville; Route 1 CU, Paris.

2-star ('problematic')

One credit union

Community Healthcare CU, Urbana.

Not rated*

Seven credit unions

Canaan CU, Urbana; Champaign Postal CU, Champaign; Credit Union 1, Rantoul; Danville Bell CU, Danville; McMillen Master CU, Gibson City; MEA CU, Monticello; Urbana Postal CU, Urbana.

* — Because either the credit union is insured privately or is too small to be rated.