Raddon Lauds High-Performing CUs

Balanced scorecard measures growth, income, efficiency and margin management.

September 8, 2010

Raddon Financial Group, a business unit of Open Solutions Inc., presented its annual Crystal Performance Award to high-performing credit unions in two asset classes based on their performance.

The award recognizes 10 credit unions in each of two asset categories (more than $500 million and less than $500 million) that achieve a top 10 ranking on a balanced scorecard measuring growth, income, efficiency, and margin management. More than 500 credit unions were evaluated in this year’s ranking.

“Recipients of this award tend to have strong member relationships with higher deposit and loan balances per household, but tend to efficiently and effectively control expenses,” says Bill Handel, Raddon’s vice president of research and product development. “Credit unions tend to maintain an average efficiency ratio of about 75%, but Crystal Performance Award winners tend to maintain a much better ratio; around 60%.”

The 10 honorees with more than $500 million in assets: Altra Federal Credit Union, La Crosse, Wis.; Community First Credit Union, Appleton, Wis.; Ent Federal Credit Union, Colorado Springs, Colo.; F&A Federal Credit Union, Monterey Park, Calif.; Lockheed Federal Credit Union, Burbank, Calif.; Randolph-Brooks Federal Credit Union, Live Oak, Texas; Robins Federal Credit Union, Warner Robins, Ga.; San Diego County Credit Union; Spokane Teachers Credit Union, Liberty Lake, Wash.; and Visions Federal Credit Union, Endicott, N.Y.

The 10 honorees with less than $500 million in assets: America’s Credit Union, Fort Lewis, Wash.; Deere Employees Credit Union, Moline, Ill.; Dow Louisiana Federal Credit Union, Plaquemine, La.; Hawaii Community Federal Credit Union, Kailua-Kona; Kirtland Federal Credit Union, Albuquerque, N.M.; SeaComm Federal Credit Union, Massena, N.Y.; Service 1st Federal Credit Union, Danville, Pa.; Shell Federal Credit Union, Deer Park, Texas; Sound Credit Union, Tacoma, Wash.; and SouthPoint Federal Credit Union, Sleepy Eye, Minn.