CHARLOTTESVILLE, Va., March 23, 2016 /PRNewswire/ -- S&P Global Market Intelligence, formerly S&P Capital IQ and SNL Financial, today released its ranking of 2015's 50 best-performing credit unions. Idaho Central Credit Union led the credit union ranking for the fourth year running. The Chubbuck, Idaho-based credit union came in first over Grand Rapids, Mich.-based Lake Michigan Credit Union and North Liberty, Iowa-based University of Iowa Community Credit Union, which ranked second and third, respectively.
In the analysis, S&P Global Market Intelligence ranked the best-performing credit unions using the following five core financial performance metrics: member growth, net charge-offs 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, 2015. Based on these two criteria, there were 488 credit unions that qualified for this analysis.
S&P Global Market Intelligence calculated each 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.
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SOURCE S&P Global Market Intelligence