Billionaires Club: High Employee-to-Member Ratio Pays Off for Hanscom FCU
Wall Street generally applauds the idea of shedding employees, and credit unions often worry when their employee-to-member ratio climbs.
But that isn’t an issue at Hanscom Federal Credit Union, which just joined the Billionaires Club. President/CEO David Sprague points out assets per member are also high at the credit union, headquartered at Hanscom Air Force Base, Mass.
Even on the mortgage front there was some good news. Property values in the Northeast hadn’t soared as high as they did in some other regions and didn’t plummet as deeply as they did elsewhere. Delinquencies rose substantially, but they started out at extremely low levels.
Sprague does echo the concerns of other credit union CEOs about heavy regulatory burdens.