Credit Union News

Jim Minge, SVP Member Services, accepts the Crystal Performance Award on behalf of RBFCU.

RBFCU Receives Crystal Performance Award from Raddon
Financial Group

LIVE OAK, Texas, Oct. 22, 2009 - Raddon Financial Group (RFG), a strategic business unit of Open Solutions Inc.®, presented Randolph-Brooks Federal Credit Union (RBFCU) with its Crystal Performance Award at the Aug. 12 - 14 CEO Forum at The Broadmoor in Colorado Springs, Colo.

The Crystal Performance Award recognizes credit unions that achieve a top ten ranking based on the RFG Performance Index™ a balanced scorecard measurement of growth, income, efficiency and margin management.

"Given everything that has happened in the industry during the past year, we are pleased to have the opportunity to share good news and recognize high performing credit unions. The credit unions we recognize tend to have strong member relationships with an average of $16,000 in deposit balances per household and $27,000 in loan balances per household, yet they do this while maintaining excellent expense control with an average efficiency ratio of about 65 percent, well below the 75 to 80 percent we see for most credit unions. Their management teams, boards, employees and members should be very pleased with this recognition," offered Bill Handel, vice president of research and product development with RFG.

More than 500 credit unions were evaluated for the Crystal Performance Award through RFG's CEO Strategies Group program. Each of the winners ranked among the top two or three percent of all credit unions analyzed by RFG for two consecutive reporting periods in 2008. "Consistency in overall performance is requisite in our selection of Crystal Performance Award winners," added Bob Dye, general manager and chief operating officer with RFG.