Langley Federal Credit Union was ranked Best Credit Union in the nation by Kiplinger's Personal Finance's first-ever rankings of the Best Banks in the U.S. Langley was also ranked second for the 2017 Best Bank for Millennials. To identify the best of the best, the magazine made their selections among national banks, nationally available credit unions and internet banks, plus the best bank in each of four regions, as well as the top and runner-up institutions in a number of personalized categories.
"We are extremely proud to be recognized as the Best Credit Union in the United States," stated Langley President/CEO Tom Ryan. "Our dedicated Langley team works extremely hard to serve our membership and make this possible. It's an exciting milestone and we are grateful for being recognized."
"While banks are on a mission to cut costs and raise revenues—with customers getting caught in the crossfire—some institutions are making all the right moves to win satisfied customers, and we're proud to say we were able to name them in our first-ever Best Banks list," said Kiplinger's editor Janet Bodnar. "One of the most important, personal decisions consumers make is where to keep their money. Since situations vary, our goal is to help people make informed choices for themselves and their families."
Langley was ranked Best Credit Union in the country, while TD Bank and U.S. Bank tied for #1 among national banks. Ally Bank won Best Internet Bank and Best Bank for Millennials. Langley was ranked second as Best Bank for Millennials. The winners were selected from a pool of nearly 12,000 contenders.
The editors at Kiplinger's Personal Finance used data from Moebs Services, a Lake Forest, Ill., economic research firm, to rank national and regional banks and thrifts, credit unions, and internet banks. The process to select the best started with all 11,831 U.S. depositories as of year-end 2016. To identify the soundest financial institutions, the list was screened for asset size, excess fees, high expenses and sufficient capital. For each specific customer profile, the editors started with top financial institutions identified by the Moebs rankings and then added their own research and judgment to find banks, thrifts and credit unions with accounts and features most appealing to each group.
The complete rankings are now available online at Kiplinger.com, along with in-depth profiles of the selected institutions. The ranking will be available in print in the July 2017 issue of the magazine.
About Langley Federal Credit Union
Langley Federal Credit Union serves over 300,000 members with 4 billion in assets, ranking the financial cooperative as one of the largest credit unions in the country. Located in Hampton Roads, Virginia, Langley has 21 branches and has served the community for 86 years.
For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continuously published newsletter in the United States. In 1947, Kiplinger created the nation's first personal finance magazine. Kiplinger.com is the fastest growing Web site in the personal finance space. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language.