Chief Financial places as Healthiest Credit Union in Michigan
Rochester Hills, Michigan, August 1, 2017 –
Chief Financial Credit Union, headquartered in Rochester Hills, has been named 2017 Healthiest Credit Union in Michigan and ranked in the Top 200 Healthiest Credit Unions in the United States.
The ranking, measured by DepositAccounts.com, makes Chief Financial Credit Union 36th healthiest credit union out of more than 10,000 financial institutions evaluated in the U.S. and number 1 out of 230 credit unions evaluated in Michigan.
“We are honored to receive this recognition,” says Chief Financial Credit Union CEO Tom Dluzen. “Our team has worked incredibly hard and being recognized by a respected and independent reviewer like DepositAccounts.com is extremely rewarding.”
DepositAccounts.com is a comprehensive and independent evaluator of financial institutions. They provide extensive financial information and ratings for all federally insured banks and credit unions and display approximately 275,000 rates from U.S. banks and credit unions.
DepositAccounts.com measures the health of a financial institution using three different factors. The first is a ratio – Texas Ratio - that is calculated by comparing the total value of at risk loans to the total value of funds the financial institution has available to cover these loans. The next measurement is Deposit Growth; a strong track record of stable growth is an indicator of consumer confidence and the financial institutions ability to strengthen their balance sheet. The last factor, Capitalization, is calculated by subtracting the financial institution’s liabilities from their assets. Strong capital means that more assets are available to cover potential losses.
“Our employees, members and communities count on us,” Tom Dluzen adds, “doing the best we can for them is our highest priority. We are committed to our continuous improvement and the national recognition by DepositAccounts.com is confirmation that we are on the right track. From the addition of our Free Kasasa® Rewards checking accounts to the creation of our Visa® products that support our community partners Leader Dogs for the Blind and Rochester College, we are constantly looking for ways to reward our members and give back to our communities.”