Eastman Credit Union has been ranked as the #1 Top Performing Credit Union in the United States by S&P Global Market Intelligence.
“We are honored and humbled to receive this prestigious designation. It is a culmination of years of valuable leadership from our volunteer Board of Directors, the hard work and dedicated service of our incredible staff, and the unwavering loyalty of our members that have led us to achieve these outstanding results,” said Kelly Price, ECU’s president and CEO.
Each year, S&P Global Market Intelligence releases rankings for the best-performing credit unions based on five metrics: member growth, shares and deposits per member, net worth as a percentage of total assets, delinquent loans as a percentage of total loans, and return on average assets.
According to the rankings, Eastman Credit Union outperformed the industry in each of the five ranking metrics compared to the median for all 1,801 credit unions eligible for the ranking. Additionally, Eastman Credit Union’s member growth was more than double the top 100 median, and its shares-and-deposits per member ratio was also higher than the top 100 median.
ECU has ranked in the top 25 for the last ten years with six top 10 positions.
“The metrics and ratios S&P Global Market Intelligence uses to calculate the rankings are very specific. These year-after-year results are an unbiased representation of the overall strength and stability of Eastman Credit Union. ECU’s historically strong rankings further exemplify our consistency during economic fluctuations,” said Price.
“As banks and credit unions weather a higher for longer interest rate environment, we are delighted to see them continue serving their local markets,” said Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence. “During these volatile times, quality data and insights continue to be vital, and we are committed to providing transparency through these rankings to help the market make informed decisions.”
Criteria for the rankings included credit unions with over $100 million in total assets and a net worth ratio of at least 7% as of December 31, 2023. Given this criterion, 1,801 credit unions qualified for ranking. S&P Global Market Intelligence is a provider of information services and solutions to global markets.
About Eastman Credit Union
Eastman Credit Union is a not-for-profit financial cooperative headquartered in Kingsport, Tennessee. ECU is one of the nation’s top 50 largest credit unions, with over 325,000 members and more than 1,000 workers serving areas of Northeast Tennessee, Southwest Virginia, and East Texas. For more information about ECU, visit ecu.org. Funds are federally insured by NCUA. Member Equal Housing Lender. Equal Opportunity Employer.
