Credit Unions Enhance Student Life at Top Universities

University-affiliated credit unions are delivering significant value to their members according to the Return Of the Member (ROM) score.

 
 

Included in the top 25 schools listed in U.S. News & World Report’s recently released ranking of ‘America’s Best Colleges’ are 15 schools closely associated with credit unions. While the publication included important statistics such as the student -to- faculty ratio and average SAT scores of entering students in calculating the rankings, it overlooked one key consideration: the value of credit union membership! So, we have taken in upon ourselves to assist prospective students in this aspect of their decision-making process.

The credit unions we examined ranged from the $5 million University of Pennsylvania Students FCU to the $644 million Stanford FCU. In order to determine which credit unions deliver the most ‘bang for the buck’ for entering students, we analyzed each credit union’s Return of the Member (ROM) score using Peer-to-Peer.

The overall leader among these university credit unions is Notre Dame FCU, which leads the group in the Return to the Savers category and is third in both the Return to the Borrowers and Member Savings Categories. Notre Dame posts the highest average dividend rate among the 15 credit unions at 1.93%, as well as the highest number of loans per member, 0.64.

The second place credit union, Massachusetts Institutes of Technology FCU, is also the fastest growing among the group with 14.6% asset growth over the past year. MIT FCU ranks first in the Return to the Borrowers category and second in Member Service Usage. Given these rankings it is not surprising that MIT has the highest loan to share ratio, 100.2%, as well as the highest credit card penetration, 29.5%, among these university credit unions.

The top 5 in overall ROM score among these 15 credit unions

Credit Union

ST

Return of the Member Rank

Return to the Savers Rank

Return
to the Borrowers Rank

Member Service Usage Rank

Notre Dame

IN

1

1

3

3

MIT

MA

2

4

1

2

Stanford

CA

3

2

2

5

University of VA Community

VA

4

5

7

1

CFCU Community (Cornell)

NY

5

7

6

4

Complete list of the 15 university credit unions

Credit Union

ST

Assets

Carnegie Mellon University

PA

$7,407,460

CFCU Community

NY

$399,305,481

Duke University

NC

$69,753,177

Emory

GA

$88,036,633

Georgetown University Alumni and St

DC

$8,639,284

Harvard University Employees

MA

$194,376,607

Johns Hopkins

MD

$200,838,274

Massachusetts Institute Of Technolo

MA

$187,828,770

Notre Dame

IN

$350,475,839

Princeton University

NJ

$109,694,796

Stanford

CA

$644,769,542

University Of Pennsylvania Students

PA

$5,140,467

University of VA Community

VA

$314,204,567

Vanderbilt University Employees

TN

$17,839,157

Yale-New Haven Healthcare

CT

$20,875,770

Although these rankings differ from the U.S. News rankings, the bottom line is that by taking advantage of credit union membership, the incoming students at these schools can receive more than a great education!

For a complete list of the U.S. News rankings click here.

To see how your credit union compares on the Return Of the Member (ROM) score and other key ratios, try Callahan's Peer-to-Peer software or CUAnalyzer, the latest online financial analytical and benchmarking tool.

 

 

 

Sept. 19, 2005


Comments

 
 
 
  • This article rocks!
    Anonymous