5 top performing Credit Unions based on asset size
By Pavithra R
A Credit Union (CU) is a member-owned financial cooperative, controlled by the people, or members, who use their services. CUs are operated on the principle of people helping people, providing its members’ credit at competitive rates as well as other financial services.
CUs differ from banks and other financial institutions (FIs) in that those who have accounts in the CU are its members and owners. A volunteer board of directors is elected by members (irrespective of the size of investment) to manage a CU.
Worldwide, CU systems vary significantly in terms of total assets and average institution asset size. The article reveals the top performing 5 CUs with more than $500 million in assets. The following data has been captured and analyzed from Raddon, a Fiserv company’s 2020 winners of its Crystal Performance Awards.
3Rivers Federal Credit Union (1935)
3Rivers Federal Credit Union is a banking firm offering personal banking, business banking, and wealth management services. The firm believes everyone can achieve financial success and strives to empower the community by providing personalized service, tools, and education when it comes to money matters.
The member-owned, not-for-profit cooperative has $1.6 billion in assets, more than 109,000 members, 20 branches, and over 440 employees. 3Rivers federally insured by the NCUA.
Coast Central Credit Union (1950)
Coast Central Credit Union is a not-for-profit financial cooperative, owned by 72,000 members. The CU provides financial solutions such as loans, investment, savings, credit and debit cards, online banking, and other related services.
Coast Central CU’s mission is to be the primary financial institution for members by providing high-quality financial services, at competitively favourable rates, consistent with maintaining financial strength. It serves communities in the State of California.
Community Credit Union of Florida (1953)
Community Credit Union (formerly known as Community Educators Credit Union) is a not-for-profit financial institution which serves everyone in Brevard, Indian River, Orange, Osceola, Polk or Volusia counties. It is among the largest CUs in Florida with assets totalling $889.08 Million and providing banking services to more than 49,000 members.
Dupaco Community Credit Union (1948)
Dupaco Community Credit Union is a full-service financial cooperative headquartered in Dubuque, Iowa. It is a not-for-profit financial cooperative with the mission to serve and enrich the lives of its members through personalized financial advice, products and services. The CU provides its members with a savings account, lower loan rates, fewer service fees, low-cost insurance, financial education and more.
Dupaco is the financial home of more than 125,000 member-owners. In 2019, Dupaco provided its membership more than $50 million in value, that’s an average of $461 per member.
Community First Credit Union (1975)
Community First Credit Union is a not-for-profit financial cooperative, owned by 144,000 members with $4 billion in assets. The CU’s mission is to be the primary financial institution for its member, providing them with high quality, competitive, financial products and services which anticipate and exceed their needs.
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June 02, 2023
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