ARLINGTON, Va.—Despite economies of scale that come with size, it is federally insured CUs under $1 billion in assets that have shown the greatest improvement in operating expense efficiency since the recession. That is one finding from NAFCU’s new quarterly CU Operating Expense Report, recently introduced by the trade association.
Chief Economist and Director of Research Curt Long told CUToday.info that credit unions within four asset-class ranges below $1 billion are faring best at cost-cutting since the economy started its nosedive.
“These asset-class credit unions have cut their expenses quite a bit since 2008,” he said. “Credit unions above $1 billion in assets showed the least improvement, with many remaining relatively flat when it comes to operating efficiency ratio” he said.