Service Credit Union has been named one of the best-performing credit unions of 2018 according to a March report from S&P Global Market Intelligence.
S&P ranked the nation’s credit unions using five core financial performance metrics: member growth, market growth, operating expense as a percentage of operating revenue, net charge-offs as a percentage of average loans, and delinquent loans as a percentage of total loans. Each company’s standard deviation from the industry mean was calculated for every ranking metric, equally weighted, then added together to calculate a performance score.
To be eligible for the 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 December 31, 2018. Based on these criteria, 552 credit unions qualified for the ranking.
The full report is available to users of S&P Global.
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. S&P Global Market Intelligence, a division of S&P Global, provides essential intelligence for individuals, companies, and governments.