Grab your membership card and proudly wave it in the air — International Credit Union Day is here. In 1948, the World Council of Credit Unions named the third Thursday in October International Credit Union (ICU) Day to honor the credit union movement and showcase the value credit unions provide to members across the world.
Credit unions celebrate ICU Day by showcasing the cooperative difference through special promotions and branch celebrations. Today, Callahan & Associates is celebrating by highlighting credit unions across the United States that provide exceptional member value as indicated by the firm’s Return of the Member (ROM) scoring system.
Developed by Callahan & Associates in 1996, ROM is a comprehensive scoring system of member value that looks beyond the traditional safety and soundness issues covered by the NCUA’s CAMEL scores and other regulator measures.
The ROM calculation considers three core credit union functions: Return to Savers (savings), Return to Borrowers (lending), and Member Service Usage (product usage). Credit unions across the country use the score to support their member-facing goals, hold staff accountable to better serve members, and demonstrate the impact credit unions have in their communities
Today is all about showing off the authentic credit union difference. ROM is a great way for credit unions to shout out that difference to members.
Take a look at the top 10 credit unions by each asset range to see which credit unions made the leader board.
If you don’t see your credit union and want to know where it ranks, contact Callahan today for your score.
Happy ICU Day!