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Peer Ranking: |
Performance Analysis:
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Formula Definition
The number of accounts – loans and deposits - a member is driven primarily by the credit unions business plan and secondarily by the credit union’s field of membership. A credit union that has decided that they will offer a full menu of financial services and has allocated the resources required to deliver those services should have a much higher account to member ratio. The first component of this strategy includes developing products and services that meet member needs including checking accounts, a variety of investment type deposit products, credit cards and real estate loans. The second component of this strategy includes developing a variety of delivery channels that fit the field of membership – examples include the appropriate number of branches, a call center that process loans and on-line systems that provide both transaction and deposit and loan account processing. The third component of the strategy includes competitive pricing strategies and the forth component of the strategy is developing an effective sales culture that is effective at both deposit and loan products. Credit unions that have decided that they will provide niche or limited services to members will need to continually monitor the membership for validation of the strategy and be constantly aware of competitive forces that could copy the strategy. Credit unions that do not have a strategy to purge dormant or single service inactive accounts will also have a low account to member ratio. |
| Note:The
star ratings and accompanying text are based on percentile rankings within a
peer group. However, the peer average displayed in the chart is calculated as
the weighted average (the mean) of the peer group. Therefore, it is possible
that the star ratings and text may at times not correlate what is being
displayed on the graph. This would be the case when the average of the peer
group varies measurably from the 50th percentile ranking (the median) within
the peer group.
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Phone: 1-800-446-7453, 202-223-3920
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