The financial consultancy firm SNL Financialreported Texas and California have the largest number ofbest-performing credit unions in the country.

Its annual listing of the top 50 best performing credit unionsfound eight in Texas and seven in California in 2013. To beevaluated for a possible place on the list, credit unions had tohave total assets of at least $500 million and a net worth ratio ofat least 7%, the firm said, adding that this year 432 credit unionsnationwide made that initial cut.

The firm evaluated the credit unions on what it called “fivecore financial performance metrics that focus on growth.” Thesewere member growth, net charge offs as percentage of average loans,operating expenses as a percentage of operating revenue, delinquentloans as a percentage of total loans and market growth.

The $1.5 billion, 152,000-member IdahoCentral Credit Uniond in Chubbuck, maintained its place as thebest performing credit union from last year but did fall eightbasis points of its score from last year, SNL Financial said.

“Idaho Central's members grew by 20.12% in 2013, up fromthe 19.75% growth posted in 2012. The institution also enjoyedheady market growth, (deposits and shares growth) — above 20% forthe second year in a row,” the firm reported. “On the down side,the company's operating expense as a percent of operating revenueincreased by 8.67 percentage points to 63.2%. “

The second-best performing credit union, according to SNL, the$2.3 billion Chevron Federal Credit Union in Oakland, Calif., scored 1.44points on the back of its 0.08% net charge-off ratio and its 53.19%efficiency ratio. It also enjoyed market growth and member growthin the double digits, SNL reported, and moved up from fifth placelast year.

SNL reported the $603 million Schlumberger Employees CreditUnion in Sugar Land, Texas, earned the No. 3 spot, this year andcredited its 12.57% member growth, 25.28% market growth and netcharge-offs equal to only 0.11% of average loans. This year was thefirst year Schlumberger appeared in the top 10 of SNL's ranking,the firm said.

SNL Financial said the $16.9 billion Pentagon Federal CreditUnion in Alexandria, Va., came in at eighth place and was thelargest credit union in the top 50 list. Last year it was 34th onthe list. PenFed's shares and deposits jumped 9.74% in 2013.

The nation's two largest credit unions, the $54 billion NavyFederal Credit Union in Vienna, Va., and the $27 billion StateEmployees' Credit Union in Raleigh, N.C., came in 134th and 209thplace, respectively, the firm said.

Nationwide, 24 states had at least one credit union in thefirm's top 50 list. Texas had 33 credit unions that made theinitial cut and California had 68.