CHARLOTTESVILLE, Va.-Melrose Credit Union in Briarwood, N.Y. is the nation's top performing credit union, according to a new ranking from SNL Financial.
SNL Financial analyzes financial, market, corporate and merger data for financial services industries, as well as insurance, real estate and other areas. The firm's CU rankings measured credit unions according to six core metrics: ROAA, net charge-offs to average loans, operating expenses as a percentage of operating revenue, delinquencies as a percentage of total loans, market growth and net interest margin as a percentage of average assets.
The study's authors examined each institution's standard deviation for the mean of each measurement, then (equally weighting each standard deviation), added those together to calculate a performance score for each credit union. The study only examined credit unions with total assets of $500 million or more as of March 31, and in order to be considered for the study a credit union had to be well capitalized with a minimum net worth ratio of 7.0%. Once those factors were considered, 400 credit unions were eligible for the ranking.
Broken down on a state-by-state basis, Texas has the most CUs in the top 50 ranking (eight, or 26%), as well as the most overall CUs (30) that were eligible for ranking. New York, with six CUs in the top 50, is the only state other than Texas to have more than three CUs crack the top 50. No credit unions from California or Florida appear, either.
To see the list in full and read more about the study, visit: http://www1.snl.com/InteractiveX/article.aspx?CDID=A-15115986-12331&KPLT=2