Webster First rated 5 stars by BauerFinancial for June 2022
July 6, 2022
We’re pleased to announce that Webster First Federal Credit Union has been awarded BauerFinancial’s highest rating – “Superior” 5 stars – for June 2022. New and updated ratings are released each quarter (4 times per year) with Webster First earning the highest 5 star rating for over 30 consecutive quarters in the past 7 years.
What the rating means
Ratings are based on the financial strength of a credit union or bank, taking into account their capital, profitability, liquidity, and portfolio risk. Financial strength is important, because even though all banks and credit unions are required to have federal deposit insurance, deposits above the insurance limit could be lost if the bank or credit union fails. Regardless of insurance limitations, individuals and businesses could be subject to disruptions in direct deposits or automated bill payments if a bank or credit union is closed with no acquirer.
As a 5 star rated credit union, you can rest assured that your money is safe at Webster First. Our hard work and determination to make the best possible financial decisions has made us one of the most well capitalized credit unions in Massachusetts, meaning that you can count on us to protect you and your accounts. Plus, with our experience and dedicated team, we’re confident we can help you make the right financial decisions, too.
According to their website, “BauerFinancial is completely independent. It does not get paid (nor has it ever) to rate any institution. Bauer uses the same strict barometer to rate all banks and all credit unions and makes those ratings available to all people—for free—on its web site.”
“Since 1983, this practice, along with an excellent track record, has earned the respect of regulators, bankers and consumers across the country. We have been analyzing and reporting on the industry since 1983. Nobody knows this business better, nor is better respected.”
We’re proud to be recognized for our commitment to making the best possible financial decisions, something our more than 80,000 members trust. For more information about BauerFinancial, visit their website at https://www.bauerfinancial.com/.