MIDDLETOWN – People’s Credit Union has earned a five-star superior rating from Bauer Financial, a credit union and bank rating and research firm based in Coral Gables, Fla., according to a press release.
People’s Credit Union has earned the highest rating for the past 86 quarters. The rating is based on March 31 financial data. Only 7 percent of federally-insured credit unions have earned Bauer’s top rating for such an extended period, according to the press release.
“There has been much discussion lately about the need for financial institutions to boost their capital levels,” said Bauer Financial President Karen L. Dorway. “That doesn’t worry People’s Credit Union. Its capital ratios are already well above regulatory requirements. … People’s Credit Union excels in areas of asset quality, profitability and much more.”
“Maintaining a safe, secure and fiscally sound financial institution is our highest priority,” said People’s Credit Union President and CEO Ellen N. Ford. “We are proud to receive Bauer Financial’s highest five-star rating for the 86th consecutive quarter.”