Credit unions of $250 million and up are invited to participate in the next benchmarking study from Cornerstone Advisors in Scottsdale, Ariz.
Participants will receive the report free for their effort in filling out the online survey, the data from which will be used to produce the 2012 version of “The Cornerstone Report: Benchmarks and Best Practices for Credit Unions”, the consultancy said.
“A great deal has happened in the industry since our inaugural credit union study in 2006, and we believe there will be an enormous amount of interest on the part of these credit unions to gauge not only how their performance held up through the Great Recession, but how their competitors sustained operations through the economic crisis over the last several years,” said Scott Sommer, Cornerstone president/CEO.
The survey includes staffing, productivity, revenue and fee income benchmarks, as well as an analysis of technology utilization and spending. Participating credit unions will receive three complimentary copies of the $995 report and an individual scorecard for their institution.
Cornerstone said more than 70 institutions took part in its 2008 study and that the consultancy has bolstered its own technology for doing the work.
“The new Web-based platform will greatly simplify the survey process, significantly reduce the time commitment for study participants, and add a new layer of security to the data submitted by participating credit unions,” said Scott Hodgins, Cornerstone's research director.
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