Friday, March 25, 2016

Idaho Central tops credit union rankings

Chubbuck-based Idaho Central Credit Union took first place for the fourth straight year in S&P Global Market Intelligence’s ranking of 2015’s 50 best-performing credit unions.

It placed ahead of Lake Michigan Credit Union, Grand Rapids, Mich., and University of Iowa Community Credit Union, North Liberty, Iowa, and was the only Idaho credit union to make the list.

S&P Capital IQ and SNL Financial, S&P Global Market Intelligence ranked the best-performing credit unions using 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 percent as of Dec. 31, 2015. Based on these two criteria, there were 488 credit unions that qualified for this analysis.

ICCU has three branches in Idaho Falls, at 169 Houston Circle, 240 N. 25th East (Hitt Road and First Street) and 3330 S. 15 East (Sunnyside Road and St. Clair Road).