Operations

Raddon Lauds High-Performing CUs

Balanced scorecard measures growth, income, efficiency and margin management.

September 08, 2010
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Raddon Financial Group, a business unit of Open Solutions Inc., presented its annual Crystal Performance Award to high-performing credit unions in two asset classes based on their performance.

The award recognizes 10 credit unions in each of two asset categories (more than $500 million and less than $500 million) that achieve a top 10 ranking on a balanced scorecard measuring growth, income, efficiency, and margin management. More than 500 credit unions were evaluated in this year’s ranking.

“Recipients of this award tend to have strong member relationships with higher deposit and loan balances per household, but tend to efficiently and effectively control expenses,” says Bill Handel, Raddon’s vice president of research and product development. “Credit unions tend to maintain an average efficiency ratio of about 75%, but Crystal Performance Award winners tend to maintain a much better ratio; around 60%.”

The 10 honorees with more than $500 million in assets: Altra Federal Credit Union, La Crosse, Wis.; Community First Credit Union, Appleton, Wis.; Ent Federal Credit Union, Colorado Springs, Colo.; F&A Federal Credit Union, Monterey Park, Calif.; Lockheed Federal Credit Union, Burbank, Calif.; Randolph-Brooks Federal Credit Union, Live Oak, Texas; Robins Federal Credit Union, Warner Robins, Ga.; San Diego County Credit Union; Spokane Teachers Credit Union, Liberty Lake, Wash.; and Visions Federal Credit Union, Endicott, N.Y.

The 10 honorees with less than $500 million in assets: America’s Credit Union, Fort Lewis, Wash.; Deere Employees Credit Union, Moline, Ill.; Dow Louisiana Federal Credit Union, Plaquemine, La.; Hawaii Community Federal Credit Union, Kailua-Kona; Kirtland Federal Credit Union, Albuquerque, N.M.; SeaComm Federal Credit Union, Massena, N.Y.; Service 1st Federal Credit Union, Danville, Pa.; Shell Federal Credit Union, Deer Park, Texas; Sound Credit Union, Tacoma, Wash.; and SouthPoint Federal Credit Union, Sleepy Eye, Minn.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory (www.appreciationatwork.com/assess) will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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