Associate, Affliate Credit Unions Make the "Largest" List
The St. Louis Business Journal recently compiled a list of the largest credit unions in the St. Louis area, as ranked by deposits. It included First Community Credit Union, Anheuser-Busch Employees' Credit Union (and American Eagle Credit Union), Scott Credit Union, Vantage Credit Union, 1st MidAmerica Credit Union, Neighbors Credit Union, St. Louis Community Credit Union, 1st Financial Federal Credit Union, Arsenal Credit Union, Alliance Credit Union, West Community Credit Union, Electro Savings Credit Union, Catholic & Community Credit Union, Century Credit Union, Laclede Community Credit Union, First Missouri Credit Union, Purina Credit Union, Health Care Family Credit Union, APEX Financial Credit Union, Altonized Community Credit Union, Missouri Valley Federal Credit Union and Southpointe Credit Union.
In addition to this list, the feature also highlighted a number of interesting credit union figures and an interview with Dave Osborn, president and CEO of Anheuser-Busch Employees’ Credit Union and American Eagle Credit Union.
Nicholas Ledden, of the St. Louis Business Journal, reported that these credit unions’ combined deposits totaled approximately $7.27 billion as of June 30, 2013. Their combined volume of loans outstanding was at $5.23 billion as of June 30.
The list included a section dedicated to the credit unions that had the greatest percent change in total assets from June 30, 2012 to June 30, 2013. The top five “gainers” on this particular list included Missouri Valley Federal Credit Union (9.98%), Health Care Family Credit Union (9.15%), West Community Credit Union (7.51%), Scott Credit Union (6.21%) and First Community Credit Union (4.75%).
The interview with Osborn touched on topics like loan growth at credit unions, new branch locations, and even the credit union tax exemption status.
“Last year and early this year, the upward loan growth trend was fueled by mortgage refinances but that business was reduced as a result of the Fed talking about raising rates,” answers Osborn, when asked what drove the loan growth over the last few quarters. “Currently, our loan growth is being driven by vehicle lending and the demand from our members for new and used auto loans.”
The interview can be viewed here by subscribers of the St. Louis Business Journal.