By Michael Souza
PBN Staff Writer
MIDDLETOWN – BauerFinancial Inc., a credit union rating and research firm, has recognized People’s Credit Union as a 5-Star Superior credit union. A 5-Star rating indicates PCU is one of the strongest credit unions in the nation. To earn this prestigious 5-Star rating, PCU must excel in areas of capital quality, asset quality, profitability and much more. In fact, People’s Credit Union has earned this 5-Star Superior rating for the latest 82 consecutive quarters which puts it in an elite group of “Sustained Superiority Credit Unions.” Only 7 percent of the nation’s credit unions can claim this distinction.
Karen L. Dorway, president of the rating firm, praised the Middletown-based credit union. “People’s Credit Union has mastered the three R’s of service: It is responsive to the members’ needs, responsible in its underwriting and investments, and respected by the nation’s premier rating and research firm as well as its members,” she said. “This gets increasingly important to consumers as big banks grow more complex and inflexible. It’s encouraging to know that there are community oriented institutions, like People’s Credit Union, stepping up to the plate.”
PCU serves the public through six locations in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield. BauerFinancial of Coral Gables, Fla., has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.