S&P Global Market Intelligence recently released its ranking of the 50 best-performing credit unions of 2015, naming Superior Credit Union number seven in the nation, the only Ohio-based credit union to make the list.
The rankings were decided using five core financial performance metrics: member growth, net charge offs as a percentage of average loans, efficiency ratio, asset quality, and market growth. The credit union is ranked in impressive company, as only one other credit union in the top ten had assets of less than $2 billion. Up from $572 million at year end, Superior’s current asset size is $590 million.
“Superior is proud to be recognized as one of the safest and best performing credit unions in the country,” said Phil Buell, CEO. “To be recognized nationally, is a testament to our volunteers, employees, and members, who collaboratively provide our community with consumer-friendly financial solutions.”
Superior acquired the Southeast Financial Credit Union branches in Fostoria and Tiffin at he beginning of 2016, expanding their customer base by 7,000 members and $60 million in deposits.
“We’re excited to have this opportunity to bring our seasoned products and services to our new members in Seneca County,” Buell said at the time of the transition. “We feel strongly that the acquisition will be a win-win for all concerned.”
Branch Manager Tricia Reinhard elaborated: “We originally invested into Tiffin because we feel that it is a city that is growing more everyday, and a lot of us are from the area and want to give back to the community, what it has given to us and more if possible. I have worked in the Fostoria and Tiffin branches for 11 years, and I am very happy to see our Credit Union going back to the way it was when I first started working here – which is getting more involved and supportive with our community and the things happening in it. I am very grateful to Superior for all that they have done for the community and for our members, and look forward to seeing how we can help with building an even better City of Tiffin!”
Superior is involved with a number of local organizations, including Rotary, the Seneca Regional Chamber of Commerce and Visitor Servies, SIEDC and Relay for Life. They are currently planning an open house including food, games, prizes, jump houses and more, all to benefit the American Cancer Society through Team Superior.
Read more about the ranking here.
About Superior Credit Union
Superior Credit Union, headquartered in Lima, Ohio, is a full-service member-owned financial cooperative that serves members in 17 Northwest Ohio counties. Superior CU currently has 12 office locations serving over 62,000 members. With assets of over $590 million, the credit union provides consumer and mortgage loans, brokerage services, insurance services, checking and savings accounts, and small business services and loans.