Dort Financial Credit Union reaches $1 billion in assets

Dort Financial Credit Union on Friday announced that it had passed the $1 billion-asset threshold in the Grand Blanc, Mich.-based CU's 69th year of business.

Opening in 1951 as Flint A.C. Employees Federal Credit Union, the institution later transitioned to Dort Industrial Employees FCU and in 1984, became Dort Federal Credit Union. On Jan. 1 of this year, Dort Financial swapped its federal charter for a state charter and opened its membership to those who live, work, worship or attend school throughout all of Michigan.

“We are grateful for our 95,000-plus members, the direction of our volunteers and the dedication of our staff allowing us to continue our success in the future,” President and CEO Vicki Hawkins said in a press release. “Most of all, we thank the community for continuing to put their trust in us; we couldn’t have achieved this milestone without them.”

The credit union has 10 branch locations and serves over 95,000 members. Call report data reflects that the credit union earned over $11 million in net income through the third quarter of 2019, up 19% compared to the same quarter one year prior.