March 1, 2013
Community First Credit Union enjoyed another highly successful year as a member-owned financial cooperative in 2012, surpassing 100,000 members and posting double-digit growth to $1.7 billion in assets.
“We had an excellent year,” said Cathie Tierney, CFCU President/CEO, at the Feb. 12 Annual Meeting attended by almost 1,000 member/owners at the Radisson Paper Valley Hotel.
“We believe in the power of our cooperative, in the power of people helping people,” Tierney said. “By working together and pooling their resources, members help one another create a better life and better world through their credit union,” said Tierney, who was re-elected to the board of directors along with Dean Hawkinson and Dr. Susan May.
- Increased total assets by 11.8 percent to $1.7 billion.
- Growth in both member deposits (up 11.2 percent) and member borrowing (7.4 percent).
- Recognized for the fourth consecutive year as one of the Top 10 U.S. credit unions for financial performance.
- Posted net earnings of $28.4 million.
- Saved member/owners more than $39 million in interest on new and refinanced loans.
- Continued to pay some of the highest deposit rates of any local financial institution.
Other achievements last year included: opening of the Howard (Green Bay area) branch in January; merging in February with New Vision Credit Union, which added a convenient west side Neenah branch office; and, converting to a more robust on-line BillPay system.