Xceed Financial Credit Union receives top rating from lending evaluator of financial institutions
EL SEGUNDO, CA (July 28, 2014) — Xceed Financial Credit Union has received a five-star rating from BauerFinancial, Inc., the nation’s leading independent bank and credit union rating and research firm. The rating earned by Xceed Financial is the highest possible and is based on objective financial data provided to the National Credit Union Administration (NCUA), the governing body for credit unions.
“Our members rely on us to operate conservatively, and to manage the Credit Union in ways that ensure their nest eggs are safe,” said Teresa Freeborn, President and Chief Executive for Xceed Financial. “This independent rating and recommendation demonstrates that our members’ trust in us is well-placed.”
BauerFinancial has been analyzing and reporting on the financial condition of the nation’s banks and credit unions since 1983, basing its ratings on data such as an institution’s capital levels, loan delinquencies, reserves, regulatory compliance, and asset quality. No institution pays for its rating, and no institution can avoid a rating.
“Credit unions are not-for-profit institutions that exist for the sole purpose of serving their members,” reminds Karen L. Dorway, president of BauerFinancial. “Credit unions, like Xceed Financial Credit Union, that have been able to earn and maintain Bauer’s top rating for strength and security reflect that deep-rooted sense of loyalty to their membership.”
About Xceed Financial Credit Union
Headquartered in El Segundo, Calif., Xceed Financial Credit Union is a federally chartered workplace credit union that focuses on meeting the needs of businesses and their employees throughout the United States. Celebrating 50 years of service, the credit union started in 1964 as Scientific Data Systems Credit Union and later became Xerox Federal Credit Union in 1970. A new name and brand identity were launched in 2008 to reflect the credit union’s expanded field of membership and new business model. A recipient of BauerFinancial’s highest rating for financial institution performance, five stars, Xceed delivers personal banking and financial literacy directly to “select employer groups” (SEGs) and is proud to help nearly 65,000 members realize their dreams. Xceed Financial has over $1.1 billion in assets under management and 13 Financial Centers in five states.