BIRMINGHAM, Ala.-The most valued "brands" in credit unions have remained largely stable in 2011 over 2010, while banks have seen "widespread change," according to the 2011 Bancography Brand Value Index, released last week.
Saying it reflected the stability of the credit union sector, Bankcography reported that 19 of 2010's top 25 large institutions retain their top-25 status in the Index. For the second year in a row, Austin Telco FCU leads the largest credit unions (those above $1 billion), followed by Landmark CU in Wisconsin and Local Government FCU in North Carolina. Among small credit unions (those with assets of less than $1 billion), Complex Community FCU in Texas, Freedom CU in Pennsylvania, and Gwinnett FCU the Brand Value Index, with Freedom jumping from a 28th place showing in 2010.
"The stability in the credit union rankings versus 2010 differs sharply from the commercial bank rankings, which saw widespread change from the prior year," Bancography said. "This performance also contrasts greatly from the 2010 credit union rankings, where only nine institutions repeated their top-25 positions from the previous year. Only two of 2010's top-10 ranking credit unions, fourth- and sixth-ranked Mountain America Credit Union (Utah) and University Credit Union (Texas), drop out of the top 10 in 2011. Three credit unions, American Heritage (Penn.), Caltech Employees (Calif.) and Empower (N.Y.), move up from the small credit union tier (and rank among the top 25 large credit unions in 2011."
Also appearing in the sub-$1 billion category, White Sands (N.M.), Americu (N.Y.) and America's Credit Union (Wash.) returned to the top 25 in the Index, while Navy Army (Texas), 2010's second-ranking small credit union, now ranks ninth in the large credit union tier, while 2010's first- and third- ranking credit unions, InTouch (Texas) and First Community Credit Union (Texas), fell out of the top 25, the company said.
In calculating brand value, Bancography said it quantifies the proportion of each institution's long-term value that is attributable to the intangible factors that constitute an institution's brand. "These factors include the institution's reputation, service quality, image and market awareness. The brand value index identifies institutions that produce financial results beyond what their capital base, market conditions and competitive environments would predict," it said. "The calculations reward institutions that display consistently strong earnings and a reasonable cost of funds."
The Top Credit Union Brands
Assets Greater Than $1 Billion
1. Austin Telco (TX)
2. Landmark (WI)
3. Local Government (NC)
4. JSC (TX)
5. University of Wisconsin
6. American Heritage (PA)
7. Lake Michigan (MI)
8. State Employees' (NC)
9. Navy Army (TX)
10. HawaiiUSA
The Top Credit Union Brands
Assets Less Than $1 Billion
1. Complex Community (TX)
2. Freedom (PA)
3. Gwinnett (GA)
4. Actors (NY)
5. White Sands (NM)
6. Idaho Central
7. Columbus Metro (OH)
8. University First (UT)
9. Southeastern (GA)
10. Motorola Employees (IL)
