5-star rated People’s Credit Union earns prestigious award
MIDDLETOWN, RI (September 23, 2013) — People’s Credit Union is proud to be recognized as one of the strongest credit unions in the nation by BauerFinancial, Coral Gables, Florida, the nation’s leading bank and credit union rating and research firm. BauerFinancial has been analyzing and rating the nation’s financial institutions since 1983 and People’s Credit Union has earned its highest rating for 5-Stars for the most recent 87 quarters. The latest rating is based on June 30, 2013 financial data and indicates that People’s Credit Union significantly exceeds all federal capital requirements and maintains a low level of delinquent loans, among other benchmarks.
Karen L. Dorway, president of the research firm, had this to say, “A recent Gallup poll indicates that consumer confidence in financial institutions is beginning to come back. That confidence, no doubt, can be attributed to institutions like People’s Credit Union, that hold to the principles of sound banking. These are the shining stars of the industry. People’s Credit Union has been able to thrive without compromising its standards, and that’s commendable.”
Having continuously earned a 5-Star rating for this length of time merits an even more elite distinction of being a “Sustained Superiority Credit Union.” Only 7% of the nation’s credit unions have earned Bauer’s top rating for so long with such consistency.
“Maintaining a strong financial institution that our members can trust is one of our top goals. We are thrilled to receive this impressive 5-Star rating for strength and performance once again,” commented Ellen Ford, People’s President & CEO.
People’s Credit Union serves members through six locations in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield. People’s, a member-owned, state chartered, federally insured, community credit union established in 1922. Membership is open to all individuals. Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.
BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays Bauer Financial to rate it, nor can any choose to be excluded. Consumers may obtain free star-ratings by visiting www.bauerfinancial.com.