Nine California CUs Make Top Annual Financial Performance List

Nine credit unions in California above $100 million in assets made S&P Global Market Intelligence’s annual top-100 Bank and Credit Union National Rankings list that was published this week by the industry analysis firm.

AdelFi CU (No. 9), Chevron FCU (No. 30), SFI FCU (No. 40), California Lithuanian CU (No. 72), Redwood CU (No. 80), Families and Schools Together FCU (No. 84), Long Beach Firemen’s CU (No. 85), Glendale Area Schools CU (No. 89), and Self-Help FCU (No. 99) were included on this top list for last year (financials ending Dec. 31, 2022). The top-100 list of U.S. credit unions can be found here.

Scores were calculated based on five metrics: member growth, total number of loans per member, net worth as a percentage of total assets, delinquent loans as a percentage of total loans, and return on average assets (ROA).

Financial Performance of Nine California CUs
Criteria for credit union rankings include those with more than $100 million in assets and a net-worth ratio of at least 7 percent as of Dec. 31, 2022 — with 1,797 U.S. credit unions qualifying for this annual analysis. California’s nine credit unions (and individual rankings) on the list are as follows:

• 9: AdelFi CU (Brea, CA) — $574 million in assets; 6.9 percent annual growth in membership; 0.62 (number of total loans/members); 15.8 percent (net worth/assets — or “net worth” ratio); 0.36 percent (total delinquent loans/total loans); and 5.12 percent (return on assets — ROA).
• 30: Chevron FCU (Concord, CA) — $4.9 billion in assets; 7.3 percent annual growth in membership; 0.35 (number of total loans/members); 13.7 percent (net worth/assets — or “net worth” ratio); 0.27 percent (total delinquent loans/total loans); and 1.79 percent (return on assets — ROA).
• 40: SRI FCU (Menlo Park, CA) — $206 million in assets; 66.9 percent annual growth in membership; 0.88 (number of total loans/members); 11.8 percent (net worth/assets — or “net worth” ratio); 0.16 percent (total delinquent loans/total loans); and 0.86 percent (return on assets — ROA).
• 72: California Lithuanian CU (Santa Monica, CA) — $153 million in assets; -0.4 percent annual growth in membership; 0.09 (number of total loans/members); 17.3 percent (net worth/assets — or “net worth” ratio); 0.00 percent (total delinquent loans/total loans); and 1.45 percent (return on assets — ROA).
• 80: Redwood CU (Santa Rosa, CA) — $7.5 billion in assets; 6.9 percent annual growth in membership; 0.61 (number of total loans/members); 12.1 percent (net worth/assets — or “net worth” ratio); 0.41 percent (total delinquent loans/total loans); and 1.48 percent (return on assets — ROA).
• 84: Families and Schools Together FCU (Hanford, CA) — $281 million in assets; -0.2 percent annual growth in membership; 0.49 (number of total loans/members); 13.1 percent (net worth/assets — or “net worth” ratio); 0.11 percent (total delinquent loans/total loans); and 1.73 percent (return on assets — ROA).
• 85: Long Beach Firemen’s CU (Long Beach, CA) — $230 million in assets; 0.0 percent annual growth in membership; 0.34 (number of total loans/members); 21.1 percent (net worth/assets — or “net worth” ratio); 0.00 percent (total delinquent loans/total loans); and 1.17 percent (return on assets — ROA).
• 89: Glendale Area Schools CU (Glendale, CA) — $442 million in assets; -0.8 percent annual growth in membership; 0.63 (number of total loans/members); 14.6 percent (net worth/assets — or “net worth” ratio); 0.02 percent (total delinquent loans/total loans); and 1.16 percent (return on assets — ROA).
• 99: Self-Help FCU (Modesto, CA) — $2.1 billion in assets; 6.7 percent annual growth in membership; 0.33 (number of total loans/members); 26.7 percent (net worth/assets — or “net worth” ratio); 0.57 percent (total delinquent loans/total loans); and 1.21 percent (return on assets — ROA).
• Each standard deviation from the industry mean was calculated for every ranking metric, weighted equally, then combined to derive a performance score. To help normalize the data and mitigate the impact of outliers, caps and floors were applied for each metric. 

U.S. Bank Rankings by Asset Size vs. Region
Asset size versus U.S. region for banks:

• Best performing community banks of 2022 below $3 billion in assets (California has eight banks in the top 100 — the second most of any state).
• Best performing community banks of 2022 between $3 billion and $10 billion in assets (California has 10 banks in the top 50 in 2023 — more than any other state).
• Best performing banks of 2022 above $10 billion in assets.
• West rankings.
• Midwest rankings.
• South/Central rankings.
• Northeast rankings.
• Southeast rankings.