Banks and thrifts are more efficient than credit unions. (Source: Shutterstock)
Credit unions are less efficient than banks and thrifts when it comes to assets per employee, according to new data from financial institution research firm Moebs Services.
According to the Lake Forest, Ill.-based company, thrifts averaged $9.7 million of assets for every employee, banks averaged $8.8 million of assets per employee and credit unions averaged just $5 million of assets per employee. Banks had 9.3% more employees than thrifts, but credit unions had 48.5% more employees than thrifts in the analysis, it said.
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