It looks like bigger credit unions are more likely to make the list– does this mean that small CUs are at a disadvantage performance-wise?
Yes and no. Like it or not, large CUs have the economy-of-scale factor in their favor– more momentum, more marketing clout. Small CUs have a totally different, but very powerful advantage. They are able to talk more directly, more personally, with their members– if they choose to do so. There is, in fact, much proof of the possibility for smaller CUs to achieve “HP” status– as demonstrated by those that have done so. Check them out! Over half the CUs on this year’s “HP” list have fewer than 20,000 members! We firmly believe that small credit unions can significantly improve their performance simply by directing all their attention to the base objective of doing more banking business with each/all of their members.
