This quarterly guide is the ideal resource for accurate, unbiased ratings and data to help citizens across the United States choose a credit union for themselves, their families, their companies, or their clients.
Credit unions provide a viable and sometimes preferable alternative to banks across the nation, with lower interest rates on loans and higher returns on savings accounts. Additionally, credit unions enjoy nonprofit status and are governed by depositors, giving members more of a say in their institution’s operation. Many U.S. consumers remain unaware of the benefits of credit unions over banks; luckily, Weiss Ratings’ Guide to Credit Unions is here to help users select the right credit union for them.
The Financial Ratings Series combines the strength of Weiss Ratings and TheStreet Ratings to offer the public a single, comprehensive source for financial strength ratings and financial planning tools. From health insurers to banks and credit unions to stocks and mutual funds, the Financial Ratings Series provides accurate, independent information that consumers need to make informed financial decisions.
All of Weiss Ratings’ Guides are published quarterly, utilize a clear-cut A-to-F rating system (similar to school grading systems), and contain more complete, up-to-date ratings than any of their competitors. This edition of Weiss Ratings’ Guide to Credit Unions features ratings and analyses of over 7,800 credit unions in the United States. Many of these companies are not rated anywhere else.
The Guide to Credit Unions is divided into three sections, preceded by an introductory section and followed by a thorough Appendix. Weiss’ complete letter-grade rubric is detailed on the inside front cover - an easily accessible reference for users researching companies in this guide.
The introductory section begins by welcoming the user and laying out the mission statement, followed by a “How To Use This Guide” orientation to the book. The final components of this section are an explanation of the Financial Strength Ratings used in the book and a page of important warnings and cautions for the user to take into account when evaluating credit unions.
Section I is an Index of Credit Unions. This section contains Financial Strength Ratings, Key Rating Factors, and a summary of financial data for all U.S. federally insured credit unions. Companies are sorted in alphabetical order, first by company name, then by city and state.
Section II contains a Recommended Company List, showcasing companies that received a Financial Strength Rating of A+, A, A-, or B+. Recommended institutions are listed by each state in which they currently operate one or more branches, and then organized alphabetically by city.
Section III is a list of Rating Upgrades and Downgrades that identifies those institutions receiving a rating change since the previous edition, whether it be a rating upgrade, rating downgrade, newly rated company, or the withdrawal of a rating. Each listing contains the Institution’s Name, New Financial Strength Rating, State, and Date of Change.
The guide ends with an Appendix containing three sections: a list of Recent Credit Union Failures, a detailed chart called “How Do Banks and Credit Unions Differ?”, and a Glossary containing the most important terms used throughout the publication.