According to Callahan and Associates “Credit Union Strategy and Performance” publication for the first quarter of 2008, NorState Federal Credit Union is in the top 10 percent of Return To Members in the nation.
The index published by Callahan and Associates measures how well a credit union is delivering value to its members by providing a rank within the credit union’s peer group.
Complex financial analysis calculates Return to Member scores in three key components.
Ranked 29th in the nation, NorState FCU is recognized in the top 10 percentile of credit unions with assets between $100 million and $250 million. There are a total of 669 credit unions that fall into this category.
David Rossignol, CEO of NorState, explained that this national recognition amongst peers is noteworthy for the members of NorState.
“In today’s dynamic market, NorState FCU must be flexible to adapt quickly to change. As an experienced provided who understands the members’ unique financial requirements, we continue to maintain a world-class credit union using resources, services and technologies necessary to remain successful as our membership grows and changes,” said Rossignol.
High marks for Return to Members proves that NorState continues to gain momentum because the members realize the value of the credit union’s cooperative movement.
“Beyond the advantages of better rates and lower fees, the real advantages and successes come from the ‘ownership’ that is realized by the members who participate in their own interests and not those of an institution,” added Rossignol.
In addition, Ray Marquis, chairman of the Board, stated: “This is not the first time that NorState has had such high placement amongst credit unions in the country, and it won’t be the last time. NorState employees and volunteers continue to develop and implement cost-saving products and services, which allows us to have a successful rate of Return to Member.”
“We continually strive to offer the best financial and insurance products available, and strive to educate our staff and members about the economy and its effect on our communities. We look to the future, with a solid past and will continue to provide excellence for generations to come,” said Marquis.
NorState Federal Credit Union, with assets over $120 million and 12, 500+ members strong, has offices in Madawaska, Van Buren, Fort Kent, Ashland and Eagle Lake and 24/7 home-banking access at www.norstatefcu.org.
Photo courtesy of Denise Cote
NSFCU RANKED HIGH in Return to Members in nationwide review of credit unions. Pictured holding the first quarter edition of “CUSP” (Credit Union Strategy & Performance) published by Callahan and Associates, are: NorState Federal Credit Union’s Chief Executive Officer David Rossignol and the Board of Directors Chairman Ray Marquis.
