Tuesday, March 31, 2020

S&P Global: Lake Michigan CU Top Performing CU in 2019

S&P Global Market Intelligence released its annual rankings for the top performing credit unions in 2019.

S&P Global Market Intelligence ranked the nation's credit unions using five core financial performance metrics: member growth, market growth, operating expense as a percentage of operating revenue, net charge-offs as a percentage of average loans, and delinquent loans as a percentage of total loans. To be eligible for the ranking, a credit union had to report more than $500 million in total assets and a net worth ratio of at least 7.0% as of Dec. 31, 2019.

This year's top performing credit union was Lake Michigan Credit Union (Byron Center, MI). The credit union outperformed the industry median in all five ranking metrics allowing it to surpass its 2018 second place ranking.

MidFlorida Credit Union (Lakeland, FL) was the second ranked credit union. S&P Global Market Intelligence cited that the credit union benefits from its merger and acquisition activity in 2019, including the acquisition of the Florida assets of First American Bank (Fort Dodge, IA) and Community Bank and Trust of Florida.

Rounding out the top 5 were Stanford Federal Credit Union (Palo Alto, CA), Idaho Central Credit Union (Chubbuck, ID), and Eastman Credit Union (Kingsport, TN).

Read more.

1 comment:

  1. This is a fantastic credit union with really nice people on the phone. So much better than the big banks

    ReplyDelete

 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.