Montana's biggest credit union gets bigger
Whitefish Credit Union has surpassed another asset milestone, topping $1.5 billion in total assets, the CU announced Wednesday.
James Kenyon, president and CEO of the Whitefish, Mont.-based institution, said the milestone was achieved in early August. He attributed the credit union’s growth to a series of initiatives put in place over the past 24 months, including the addition of a low-rate credit card, a loan/lease hybrid auto financing product, a revamped website and a new digital marketing strategy.
Expanding its suite of financial products and services has “contributed significantly” to Whitefish CU’s asset growth, Kenyon said in a statement. He said the CU has seen “strong” consumer lending performance during the first three quarters of this year, bringing in more than $35 million in new loans.
“I am proud of our team, who continually go above and beyond to provide the best service for our members,” said Kenyon. “Our growth is a testament to the credit union difference, and we are grateful for the loyalty of our members and their continued trust in us for all these years.”
Kenyon said the CU makes a “concerted effort” to deliver products and services that improve its members’ financial well-being.
“Our thoughtful and targeted marketing campaigns help us educate the right members about the right products at the right time. These strategies propelled our growth in 2019,” he said.
Whitefish CU has $8.1 million in net income for the first three quarters of this year, down from $10.4 million during the same period of 2018.