New York, New York (PRWEB) March 23, 2015
Announced today, SNL Financial released its annual ranking of 2014’s 50 best-performing credit unions. Idaho Central Credit Union led SNL's credit union ranking for the third year running. The Chubbuck, Idaho-based credit union came in first over Schlumberger Employees Credit Union and First Florida Credit Union, which ranked second and third, respectively.
In the analysis, SNL ranked the best-performing credit unions using the following five core financial performance metrics: member growth, net chargeoffs as a percentage of average loans, efficiency ratio, asset quality and market growth. To qualify for this ranking, a credit union had to report more than $500 million in total assets and a net worth ratio of at least 7.0% as of Dec. 31, 2014. Based on these two criteria, there were 458 credit unions that qualified for this analysis.
For each institution, SNL calculated that credit union's standard deviation from the mean for each of the ranking metrics. The standard deviations from the mean for each metric for each institution were then equally weighted and added together to calculate a performance score for each credit union. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric.
The ranking of all 50 Credit Unions is also attached.
About SNL Financial
SNL Financial is a leading provider of financial information on more than 6,500 public companies and 50,000 private companies in the business sectors critical to the global economy: Banking, Financial Services, Insurance, Real Estate, Energy, Metals & Mining, and Media & Communications. The SNL information service integrates breaking news, comprehensive data and expert analysis into an electronic database available online and updated around the clock. For more information, visit http://www.snl.com.