A national trade journal has rated several credit unions in the region among the tops in the U.S. when it comes to employee well-being and engagement.
New York-based Credit Union Journal published last month its annual ranking of “The Best Credit Unions to Work For” in the country, and five credit unions with a West Michigan presence made the ranking, which has 50 total institutions.
“The Best Credit Unions to Work For” ranking is determined using data compiled by the journal’s research partner, the Best Companies Group.
Credit unions must opt in to be considered, and there is no fee to participate. Participants must have at least 25 employees working in the U.S.
Best Companies Group evaluates credit unions based on various factors, such as employee benefits, policies and practices, fringe perks and demographics.
Top-scoring credit unions are then ranked in order from 1-50 and also grouped by asset classes: $200 million and under; $200 million-$500 million; $500 million-$1 billion; and over $1 billion.
West Michigan credit unions in the ranking
Assets from $200M-$500M
OMNI Community Credit Union, Battle Creek, assets: $419 million, overall rank: 43, asset category rank: 14
Assets from $500M-$1B
Michigan First Credit Union, Lathrup Village with a West Michigan presence, assets: $974 million, overall rank: 21, asset category rank: 5
Arbor Financial Credit Union, Kalamazoo, assets: $652 million, overall rank: 36, asset category rank: 10
Assets over $1B
Consumers Credit Union, Kalamazoo, assets: $1.16 billion, overall rank: 3, asset category rank: 3
Michigan State University Federal Credit Union, East Lansing with West Michigan locations, assets: $4.5 billion, overall rank: 22, asset category rank: 8
The full ranking is online.