Nine R.I. credit unions earn high ratings for financial strength

NINE OUT of 22 credit unions in Rhode Island earned the highest rating for financial strength and stability from the Florida-based rating agency BauerFinancial Inc.
NINE OUT of 22 credit unions in Rhode Island earned the highest rating for financial strength and stability from the Florida-based rating agency BauerFinancial Inc.

Nine out of 22 credit unions in Rhode Island earned the highest rating for financial strength and stability from the Florida-based rating agency BauerFinancial Inc.
The financial institutions receiving five-star ratings include Cranston Municipal Employees Credit Union, Cumberland Municipal Employees Federal Credit Union, Navigant Credit Union, Pawtucket Credit Union, Pawtucket Municipal Employees Federal Credit Union, People’s Credit Union, Postal Employees Regional Federal Credit Union, Postal Government Employees Federal Credit Union and Rhode Island Credit Union.
The rating is based on criteria including capital levels, delinquent loan rations and profitability, according to BauerFinancial Inc. No institution pays BauerFinancial to rate it, nor can any choose to be excluded.
People’s Credit Union, based in Middletown, received the added title of “Sustained Superiority Credit Union,” according to a press release, for its most recent 93 consecutive quarters, a title claimed by less than 10 percent of credit unions nationwide.
“At People’s Credit Union, we take pride in our commitment to the community and our ability to offer products and services that meet each individual’s unique needs,” said Ellen Ford, president of People’s Credit Union, in a statement. “Without the support of our great members and dedicated staff, we wouldn’t have the benefit of receiving such a prestigious rating.”
BauerFinancial has been evaluating and rating financial institutions since 1983. The analysis and subsequent rating is based on year-end financial data that credit unions report to the National Credit Union Administration, which regulates credit unions with privately – rather than federally – insured shares.
Ratings are available at www.bauerfinancial.com.

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