banking

People’s given 5-star rating

TO EARN a five-star rating, People’s Credit Union must report impressive capital levels as well as an enviable loan portfolio with negligible levels of delinquent loans.
Posted 10/11/11

MIDDLETOWN – For the 79th consecutive quarter, People’s Credit Union has been recognized as a superior five-star-rated credit union by BauerFinancial Inc., the nation’s leading credit union and bank rating and research firm.

To earn the rating, People’s Credit Union must report impressive capital levels as well as an enviable loan portfolio with negligible levels of delinquent loans.

“This elite distinction is an honor, we will continue to work hard to stay at BauerFinancial’s highest level of strength and performance,” said Ellen Ford, People’s president and CEO. “We are proud to be a local financial institution that our members can trust.”

People’s Credit Union has earned the 5-Star Superior rating for the last 79 consecutive quarters, putting it in an even more elite group of “sustained superiority institutions.” Only 7 percent of the nation’s credit unions can claim this distinction.

“Not only has People’s Credit Union proven its efficacy yesterday and today, it is also primed for whatever tomorrow may bring,” said Karen L. Dorway, president of Coral Gables, Fla.-based BauerFinancial. “The past three years have put a considerable amount of pressure on our nation’s financial system, and we are pleased to see credit unions, like People’s Credit Union, still able to shine.”

People’s Credit Union serves members through six locations in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield.

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