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STL, KC Business Journals Rank Largest Credit Unions

This week, the Kansas City Business Journal and the St. Louis Business Journal released lists of the largest credit unions in their respective areas.

The Kansas City Business Journal researched the list locally and ranked them by assets:

  1. CommunityAmerica Credit Union (Lenexa, Kan.)
  2. Mazuma Credit Union (Overland Park, Kan.)
  3. Mainstreet Credit Union (Lenexa, Kan.)
  4. Quest Credit Union (Lenexa, Kan.)
  5. United Consumers Credit Union (Independence, Mo.)

Subscribers can view the full list here. The publication also featured Brandon Michaels, CEO of Mazuma and focused on the credit union’s commitment to growth and expanding its horizons. He discussed how the visibility of the new headquarters (Overland Park) accomplishes this. 

"We also wanted to be in a high-growth area," says Michaels. "If we were going to spend millions of dollars constructing a new building, we didn’t want it just tucked in an office park somewhere. We wanted it to be a billboard for us. We also wanted ease of access.”

To read the full story, click here. You must have a subscription to read the full article.

Also researched locally, the St. Louis Business Journal ranked the largest 25 credit unions by deposits as of December 31, 2014. The top five included:

  1. First Community Credit Union (Chesterfield, Mo.)
  2. Anheuser-Busch Employees’ Credit Union (St. Louis, Mo.)
  3. Scott Credit Union (Edwardsville, Il.)
  4. Vantage Credit Union (Bridgeton, Mo.)
  5. 1st MidAmerica Credit Union (Bethalto, Ill.)

The St. Louis Business Journal also highlighted two credit union presidents from the list, Eric Acree, CEO of Vantage Credit Union, and Brian Eyestone, CEO of Southpointe Credit Union.

Acree shared that Vantage Credit Union experienced exceptional growth in 2014.

“A positive trend for credit unions remains our popularity with our member-owners, but also with the general public,” says Acree. “We put people, not profits, first. This approach resonates with consumers and is why we have seen healthy membership growth in recent years. During 2014, Vantage Credit Union welcomed thousands of new members, adding roughly 12 percent to our membership.”

When asked about the challenges to credit unions, Eyestone explained that there were several that credit unions faced—a major concern deals with merchant data breaches.

“When merchants like Home Depot, Target and Schnucks get hacked, the financial institutions are left to pay the losses suffered by their customers or members, including reimbursing fraudulent charges to checking accounts or credit accounts, blocking and issuing new debit and credit cards and time staff must spend resolving fraudulent activity.”

To read the full list, click here. You must have a subscription to access it.