A nationally-recognized rating firm has a favorable opinion of the financial institutions that do business in Ashtabula County.
In its latest review, released recently, BauerFinancial Inc., gave good marks to banks and credit unions in the area. The majority of local businesses received four- or five-star ratings from the company, which has kept tabs on the banking industry since 1983.
Businesses with four or more stars are recommended by BauerFinancial, according to its Web site. According to BauerFinancial, five-star institutions traditionally have twice the capital required by regulators.
No local business dipped below two stars on the report.
BauerFinancial’s analysis is based on the financial reports banks and credit unions are required to file during the year. Based on their study of that raw data, and using a host of criteria, BauerFinancial assigns a star rating to each business, ranging from a low of zero to a high of five stars.
Below is a list of local banks and credit unions and how they fared in BauerFinancial’s latest evaluations. Where national companies are mentioned, the rating applies to all their branches. Here are the ratings:
BANKS
* Five-Star Award: Andover Bank, Conneaut Savings Bank, Key Bank, Northwest Savings
* Four-Star Award: Cortland Savings and Banking Co., Huntington Bank, US Bank
* Three-and-a-half Stars Award: Middlefield Banking Co.
* Three-Star Award: Geauga Savings Bank
CREDIT UNIONS
* Five-Star Award: Community First Credit Union, Lakeview Federal Credit Union, Port Conneaut Federal Credit Union, SherChem Federal Credit Union
* Two-Star Award: Ashtabula City Employees Federal Credit Union
Local News
Ashtabula County financial institutions do well in national ratings
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