BauerFinancial Inc., Coral Gables, Florida, the nation’s leading credit union rating and research firm, has announced that , based in Middletown, has received its highest 5-Star Superior rating.
The rating denotes the highest level of strength and performance that a credit union can receive. According to a company release, People’s Credit Union has earned the top rating for the last 78 consecutive quarters, placing it among an elite group of “Sustained Superiority Credit Unions.” Only 8 percent of the nation’s credit unions claim this distinction, People's Credit Union officials noted.
BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded.
“We are proud to be placed in an elite group of credit unions once again. We strive to help our members succeed and meet their financial goals, this rating exemplifies that,” Ellen Ford, People’s President and CEO, said in a prepared statement.
“There are so many factors that go into our rating that to list them all here would be impossible,” stated Karen L. Dorway, president of the BauerFinancial research firm. “Suffice it to say that with its impressive capital levels, an enviable loan portfolio and low delinquent loan levels, People’s Credit Union demonstrates the epitome of what a credit union should be.”
People’s Credit Union serves members through six locations in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield. Membership is open to all individuals. Deposits are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the federal government.