Panama City, Florida – March 30, 2023 - S&P Global Market Intelligence recently released its annual rankings for 2022’s best-performing credit unions.
Bay Credit Union ranked #42 in the nation based on member growth, the loan-to-member ratio, net worth, loan delinquency, and ROAA. The full report evaluated the performance of 1,797 credit unions. Contributing to the strength of Bay Credit Union was its strategic merger with the equally sound FLAG Credit Union in 2022.
“Bay Credit Union has gone through a lot of changes in the past couple of years,” said CEO Mike Akers. “It’s rewarding to see our outcomes objectively recognized by this national ranking program that verifies the strength of our organization in such dynamic times. But most of all, I’m thankful for my team working together to serve our members’ needs every single day.”
S&P Global Market Intelligence launched the rankings in 2011 to assess the performance of community banks and credit unions. The division ranks institutions based on returns, growth and efficiency but places a premium on the strength and risk profile of balance sheets.
“We’re delighted to see credit unions continue to serve their local markets as they weather swift increases in interest rates and elevated inflation,” said Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence. “Quality data and insights continue to be a vital source for the market, especially during these volatile times, and we are committed to providing transparency through these rankings to help the market make informed decisions.”
To access the full list of top-performing U.S. public banks, community banks and credit unions for 2022, click here.