10 Credit Unions that Excel Across the Board

Credit unions serve their members in a variety of ways, each measurable in its own way. Some credit unions excel at providing their members with their dream home; some put more of their members behind the wheel of their favorite car at affordable rates. Other credit unions focus on performance ratios such as loans-to-shares or ROA. Take a look at 10 credit unions that performed in the top percentile across the board in 2003.

 
Alix Patterson

By Alix Patterson

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Credit unions serve their members in a variety of ways, each measurable as a unique data point. Some credit unions excel at providing their members with their dream home; some put more of their members behind the wheel of their favorite car at affordable rates. Often these credit unions have put into place services, like an indirect auto lending program, or have adopted technology, like automated online loan approval systems, to help achieve this success.

Other credit unions focus on the financial health of their credit union. This may mean achieving a loan-to-share ratio 30 percentage points higher than the industry average, or earning a Return on Assets 200 basis points above their peers.

And then there are credit unions that excel across the board. According to Callahan's 2004 Credit Union Directory, the following ten credit unions are considered Best-in-Class* in over 6 performance categories as of June 2003.

One thing they all have in common is continued success in growing their loan portfolio. All of these credit unions rank in the top 2 percent of credit unions for 5-year loan growth. These 10 credit unions grew loans at 5-year compound rates ranging from 19.4% to 29.8%, well above the industry average of 8.8%.


Credit Union
CEO
# of Categories
Arrowhead Central CU Larry Sharp
6
Digital Federal CU Carlo Cestra
7
Evangelical Christian CU Mark Holbrook
10
Family First Federal CU Bart White
6
Honda FCU Jim Updike
6
MacDill Federal CU Robert Fisher
8
Popa Federal CU Sunny Tan
6
San Diego County CU Rod Calvao
6
The Archer Cooperative CU Steve Lamon
8
Vermont Development Caryl Stewart
6

Click here to download a PDF which includes a breakdown of Best-in-Class categories for all ten credit unions above.

*Twenty-three Best-in-Class tables are included in Callahan's 2004 Credit Union Directory. These tables include the Top 50 or 100 credit unions from all 3,520 credit unions over $20 million. The 23 leader tables in the 2004 Credit Union Directory are: Total Assets, Total Members, Member Growth, Average Share Balance, 12-month & 5-year Share Growth, Share Draft Penetration, Average Loan Balance, Loans-to-Shares, 12-month & 5-year Loan Growth, Auto Loan Penetration, Indirect Auto Lending, Leases Receivable, Credit Card Penetration, Real Estate Originations, Real Estate Loans to Total Loans, Member Business Lending, Branches and ATMs, Return on Assets, Investments/Assets, Net Worth-to-Assets, and Service Revenue/Assets. For more information, click here.

 

Dec. 1, 2003


Comments

 
 
 
  • I'm not sure having a large ROA is in the members best interest. Also, % growth can be large when you start at a low base. There are way too many environmental factors that need to be considered when determining who is really doing the "best".
    Anonymous
     
     
     
  • Looks like an ad to me, not information regarding how they did it.
    Anonymous
     
     
     
  • VERY INFORMATIVE AND ENLIGHTNING.
    Anonymous
     
     
     
  • Good question! The answer is zero. For all growth indicators we exclude credit unions that have merged for they skew the numbers. --Callahans
    Anonymous
     
     
     
  • Would have been interesting to know how many of those top ten credit unions completed one or more mergers during the measured period.
    Anonymous
     
     
     
  • Well, I thought this was outstanding! But, I'm a little bias... Jim Updike Honda FCU
    Anonymous
     
     
     
 
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