Today, CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, announced it was named the top audit firm for credit unions for the ninth consecutive year by Callahan & Associates. The rankings are published in the 2022 Supplier Market Share Guide: Credit Union Auditors.
CLA continues to outpace all auditors on the list in terms of the raw number of credit union clients with more than $40 million in assets. The current average asset size of the firm’s credit union clients stands at $1.51 billion, up from $1.36 billion last year.
The number of credit unions in the United States is declining, though membership and assets continue to grow. The Callahan & Associates report cites that about 40% of the United States population are members of a credit union and total industry assets grew 8.6% in the past year.
Using financial data as of March 31, 2022, CLA’s top ranking was based on the following statistics:
- Total credit union clients > $40 million: 245
- Total credit union clients $40 million to $100 million: 30
- Total credit union clients > $100 million: 215
- Total assets of credit union clients > $40 million: $370,714,811,637
- The data for the rankings was compiled from July 1, 2021, to June 30, 2022.
“Despite today’s economic and regulatory environment, we’re seeing strength across our credit union clients,” said Susan Sabo, CLA’s managing principal of the financial institutions practice. “We’re honored to serve credit unions of all sizes and remain committed to bringing industry insight and relevant services to help them navigate complex regulations, mitigate risks, and strengthen member relationships.”
CLA employs a proactive approach to understand business goals and details before work begins — then assembles a team to address the client’s specific needs. As an experienced advisor to credit unions nationwide, CLA serves federally and state-charted credit unions, credit union service organizations, and industry leagues and associations from coast to coast.
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With more than 8,500 people, nearly 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.