BATON ROUGE, La. (BRPROUD) — Neighbors Federal Credit Union was honored by Forbes Magazine as being one of the best-in-state credit unions in 2023. The awards list was announced on June 20.

According to Neighbors FCU, two factors were determined in recognizing the best credit unions in the U.S. including an independent survey and publicly available reviews.

Over 20,000 U.S. consumers were asked to rate credit unions based on what they had in their checking/saving accounts and a sentiment analysis of available online text reviews was applied.

Reviewing and ratings were considered for 20% of the scoring, while the surveys counted for 80%, according to the release.

To create the rankings, Forbes surveyed over 30,000 U.S. residents and contributors were questioned to name all the banks and credit unions where they have a checking or saving account, according to Neighbors FCU.

According to the National Credit Union Administration, the credit union system’s net worth increased in 2022 by more than $21 billion to about $233 billion.