LIMA — The Lima Postal Employees Federal Credit Union has received a lower rating by bank research firm BauerFinancial Inc., of Coral Gables, Fla, according to wire reports.
The credit union dropped from a four-star “excellent” to a three-star “adequate” for the third quarter.
The Lima credit union lost its fourth star because of financial losses. In the third quarter, the Postal Employees credit union, which has $3 million in assets, posted a $108,000 loss. In the second quarter its loss was $10,000.
As of the third quarter, in northwest Ohio there were 10 banks and 26 credit unions with five-star “Superior” ratings from BauerFinancial.