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| Dupaco Among Top 5 Credit Unions in the Nation for Return to Members |
| Posted: | July 27, 2011 |
| Details: | An independent national credit union research firm has ranked Dupaco Community Credit Union fifth out of all 7,441 credit unions nationwide for the value it provided to members last year.
In the previous year, Dupaco ranked seventh out of 204 credit unions in its asset peer group nationwide, according to Callahan & Associates’ Return of the Member (ROM) Index.
Callahan describes ROM as an economic profile based on the value of a credit union’s products and services. The index is calculated by analyzing three distinct components:
- “Return to the Saver” measures how well a credit union is providing deposit services to its members.
- “Return to the Borrower” recognizes that credit unions were created to provide credit to their members at a reasonable cost.
- “Member Service Usage” measures how efficiently a credit union provides and promotes services to its members.
ROM is an important measure of organizational value to the credit union’s member/owners, notes Callahan.
“Unlike for-profit financial institutions, credit unions do not have a conflict of interest in serving either shareholders or customers,” says Callahan. “To credit unions, they are one and the same: Members.”
Dupaco President/CEO Bob Hoefer said the Callahan distinction ultimately is testimony to the “tremendous support of Dupaco’s membership and the credit union’s ongoing commitment to providing outstanding service, personalized financial advice and cost-effective products that help members get ahead in life.” |
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