JUPITER, Florida (March 29, 2011) — Communication Federal Credit Union (CFCU) located in Oklahoma City, Oklahoma with assets of $802.8 million was upgraded to a Weiss Financial Strength Rating of A+ (Excellent) from an A (Excellent) based on fourth quarter 2010 data. This makes the institution one of only 33 credit unions in the nation to earn this distinction. Weiss covers 7,437 credit unions nationwide.
CFCU reported a profit of more than $8 million through December 31, 2010 and return on assets of 1.08%, double the industry average of 0.52%. Additionally, the institution had an above-industry-average risk-based capital ratio (10%) of 14.55%. Nonperforming loans represented less than 1% of its loan portfolio, half the industry average of 1.71%.
Weiss Ratings, the nation’s leading independent provider of bank, credit union and insurance company financial strength ratings, accepts no payments for its ratings from rated institutions. It also distributes independent investment ratings on the shares of thousands of publicly traded companies, mutual funds, closed-end funds and ETFs.
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