7 17 Credit Union again named to the list of top 100 credit unions!
7 17 Credit Union has been named to the list of the top 100 credit unions in the United States and the top performing credit union in Ohio for the second straight year.
7 17 Credit was the only Ohio credit union to make the list and ranked 57 in the nation for the best-performing credit unions by S&P Global Market Intelligence.
Of the nearly 5,300 credit unions in the U.S., 1,765 qualified for the ranking by meeting a threshold of at least $100 million in assets and a net worth ratio of at least 7%.
The rankings were based on the following five metrics:
- Member growth (7 17 had a 6% increase; industry median was 1.7%)
- Total number of loans, net of Paycheck Protection Program (PPP) Loans, per member (7 17 had a net of 0.61; industry median was 0.53)
- Net worth as a percentage of total assets (7 17’s net worth was 13.97%; industry median was 9.9%)
- Delinquent loans as a percentage of total loans, net of PPP Loans (7 17 had 0.29%; industry median was 0.33% - the lower the number the better on this particular measure)
- Return on average assets (7 17’s return was 1.26%; industry median was 0.76%)
7 17 Credit Union remains committed to providing our members and the communities we serve with quality and affordable financial tools to help them reach their financial goals.