Southern Chautauqua Federal Credit Union continues to be a leader among credit unions with assets between $50 and $100 million dollars.
The Credit Union Association of New York recently released its second quarter report from Callahan & Associates Inc. The report analyzes credit union performance across several asset categories in both the state and across the nation.
Southern Chautauqua Federal Credit Union improved and is ranked in the Top 3 in three out of six categories from the Callahan & Associates report analysis.
''Everyone at Southern Chautauqua FCU has worked very diligently to ensure that we remain one of the strongest financial institutions, not just in this area, but the entire state of New York,'' said John Felton, Southern Chautauqua Federal Credit Union chief executive officer. "We believe that Southern Chautauqua FCU is a resource to everyone who banks with us and to the county as a whole because we practice a philosophy that making a difference in your community pays dividends.''
While banks are seeing stagnant or little growth, they seek to enhance their bottom lines through additional fees.
''At Southern Chautauqua Federal Credit Union, we look for ways to keep our members' money in their pockets. It is obvious from the outstanding performance in member growth, return on assets and loan to share ratio that the Southern Chautauqua Federal Credit Union way can be more profitable for everyone,'' Felton said.