S&P Ranks 717 as Ohio’s Best-Performing Credit Union
WARREN, Ohio – 717 Credit Union has been ranked as the best-performing credit union in Ohio by S&P Global Market Intelligence, as well as No. 40 in the country.
To qualify for the rankings, credit unions had to have at least $100 million in assets and a NetWorth Ratio of 7%. The 1,727 qualified institutions were then ranked on five criteria:
- Member growth – 717 reported a 7.4% increase.
- Average loans per member, net of Paycheck Protection Program loans – $9,829 per 717 member.
- Net worth as percentage of total assets – 717 reported a ratio of 14.06%.
- Delinquent loans as a percentage of total loans, net of PPP loans – 717 reported 0.41%.
- Return on average assets – 717 reported 1.07%.
717 Credit Union has more than 94,000 members and 12 offices. Its membership is open to anyone who lives, works, worships or attends school in Trumbull, Mahoning, Columbiana, Portage, Summit or central Stark counties.
The only other credit union in Ohio to make the S&P list is Superior Credit Union in Lima, which ranked No. 81 in the country.
Copyright 2021 The Business Journal, Youngstown, Ohio.