Lake Michigan Credit Union rated among best-performing credit unions in nation by S&P Global Market Intelligence
GRAND RAPIDS, MI (April 19, 2016) — Lake Michigan Credit Union (LMCU) is pleased to announce that S&P Global Market Intelligence has ranked LMCU as the #2 Best-Performing Credit Union in the US.
According to its March 23, 2016 press release, S&G Global Market Intelligence, “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.
For the full report, click here.
About Lake Michigan Credit Union
Lake Michigan Credit Union (LMCU) is the largest credit union in Michigan. Employing a staff of over 1,550 and serving over 520,000 members, LMCU's assets exceed $11.5 billion, with a mortgage servicing portfolio of over $13 billion. LMCU has 65 convenient branch locations overall, including 19 in southwest Florida. LMCU members have access to over 55,000 Allpoint ATMs worldwide. LMCU provides a full range of financial services, from high interest-bearing checking accounts to personal loans, mortgages, investments, and commercial banking.
To find out more, visit LMCU.org.
About S&P Global Market Intelligence
S&P Global Market Intelligence, formerly S&P Capital IQ and SNL Financial, is a division of McGraw Hill Financial (NYSE: MHFI). The firm is a leading provider of financial and industry data, research, news and analytics to investment professionals, government agencies, corporations, and universities worldwide. S&P Global Market Intelligence integrates news, comprehensive market and sector-specific data and analytics into a variety of tools to help track performance, generate alpha, identify investment ideas, understand competitive and industry dynamics, perform valuation and assess credit risk. For more information, visit www.spglobal.com/marketintelligence.
