717 Ranks Among Top Credit Unions in U.S.
WARREN, Ohio — 717 Credit Union was named to the list of the top 100 credit unions in the United States for the second straight year.
It was also named the top performing credit union in Ohio and was the only credit union in the Buckeye State to make the list published by S&P Global Market Intelligence, according to a press release. The credit union ranked 57th in the nation for best-performing credit unions.
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%, according to the release.
The rankings are based on 2021 year-end numbers of five metrics:
717 had a 6% increase; industry median was 1.7%.
Total number of loans, net Paycheck Protection Program loans, per member
717 had a net of 0.61; industry median was 0.53
Net work as a percentage of total assets
717 network was 13.97%; industry median was 9.9%
Delinquent loans as a percentage of total loans, net of PPP loans
717 had 0.29%; industry median was 0.33% – the lower the number, the better on this metric
Return on average assets
717’s return was 1.36%; industry median was 0.76%
Established in 1957, 717 Credit Union has more than 100,000 members and 13 offices. It’s the largest credit union in northeastern Ohio and serves customers who live, work, worship or attend school in Trumbull, Mahoning, Columbiana, Portage, Summit and central Stark counties.
Published by The Business Journal, Youngstown, Ohio.