As Credit Unions Address Evolving Challenges, CPA Firms Vie For Key Industry Partnerships

Three accounting services providers grew their client base by more than 10 cooperatives in the last year, altering the rankings for the industry’s top 10 firms.

 
 

Four of the top 10 CPA firms have gained or lost 10 or more clients in the last year, the most significant number of shifts in these relationships since 2011. CliftonLarsonAllen, LLP continues to hold the top spot, following the merger between Clifton Gunderson and LarsonAllen at the beginning of 2012. CliftonLarsonAllen also increased its hold over the number one ranking, auditing 10 more credit unions then last year – each with $40 million or more in assets. This brings its total clientele list to 230 credit unions, with assets totaling $143.4 billion. CliftonLarsonAllen is the top ranked firm in terms of market share of credit unions, with at least $40 million in 8 different states and the District of Columbia.

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Orth, Chakler, Murmane & Co. remains in second-place for market share, adding 19 clients with more than $40 million in assets to total 148 this year. They audit credit unions from 28 different states and Washington, DC. Nearman, Maynard, Vallez, CPAs rounds out the top three, with 116 credit union clients above $40 million in assets, adding two from their total a year ago. Nearman leaps frogs McGladrey LLP, as McGladrey audited 17 less clients this year compared to last year. McGladrey still has the third largest total asset size of clients, however, with 110 clients over $40 million totaling more than $82 billion.

Doeren, Mayhew & Co. continues to add credit union clients at a similar pace to last year. Overall, Doeren, Mayhew & Co. went from 32 credit union clients in 2011 to 52 in this year’s survey. Over the past year, they added 12 new clients, the second largest year-over-year increase.

 

 

 

Dec. 3, 2013


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