March 8, 2013 – NAFCU is launching its first quarterly CU Performance Benchmark reports today, providing each member credit union data packaged to allow members to easily discern their institutions’ own performance and how they stack up against their peers.
The reports coming today are based on fourth-quarter call report data for each NAFCU member credit union. Produced by NAFCU’s research team, headed by Chief Economist David Carrier, the reports provide analysis of credit unions’ key financial performance ratios as well as income, expenses, net interest margins and cost of funds, with peer comparisons according to region and asset-size class.
“This report goes above and beyond what you’ll find in the quarterly Key Financial Ratio Analysis and Operating Expense Analysis, which are still available,” said Carrier. “It’s an essential tool to help credit union management identify the institution’s strengths and weaknesses and plan for the future.”
The report did well in member testing. “This is awesome!” said Jane Foster, CEO of Lynchburg Municipal Employees FCU. “I can’t believe how much information is condensed into two sheets of paper. As a small CU, I would never be able to come up with all of this information, especially in a short period of time.”
The NAFCU CU Performance Benchmark report is quarterly and provided free as a benefit of NAFCU membership. Members with questions about the report can send an email to firstname.lastname@example.org.