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First Financial of Maryland Credit Union cracks top 50 list

Tue, Apr 30, 2013

Lutherville, Maryland

A Lutherville credit union was the only Maryland-based institution to make a national ranking of the 50 top performing credit unions in the U.S.

First Financial of Maryland Credit Union ranked 36th in SNL Financial’s rankings. SNL used a number of criteria to rate credit unions, including growth in deposits and members, ratio of operating expenses and percentage of delinquent loans to total loans. The study looked at credit unions with more than $500 million in assets.

First Financial grew membership by 2.1 percent and deposits by 6.5 percent, according to SNL. Delinquent loans account for only 0.24 percent of its total loans. Operating expenses accounted for 53.2 percent of revenue. First Financial has nine branches and $973.7 million in assets, making it the fourth-largest credit union in Greater Baltimore.

Idaho Central Credit Union in Chubbuck, Idaho was the top-performing credit union in SNL’s rankings.