ARLINGTON, Va. -
The winners were:
* Federal Credit Union of the Year, assets of less than $150M: LA DOTD FCU, Denham Springs, La.
NAFCU's Analysis: The CU attributes much of its success in 2006 (15.6% loan growth, 14.3% membership growth) to its focus on serving the needs of the underserved. LA DOTD FCU demonstrated a strong commitment to improving the financial literacy skills of the people it serves by teaching 499 financial education classes to 11,086 participants.
* Federal Credit Union of the Year, assets of $150M or more: Goldenwest FCU, Ogden, Utah.
NAFCU's Analysis: Goldenwest FCU on (GWCU) saw a 148% increase in assets during the past six years and the addition of new fields of membership. The CU has had an outstanding 89% capital growth and 55% membership growth, while its ROA increased from 1.17% in 2000 to 1.75% in 2006. GWCU recorded exceptional growth in 2006 with a 23.84% increase in assets, 24.58% growth in deposits and 20.11% in loans. It posted a 10.45% year-end net membership gain while realizing a ROA of 1.75%.
* Professional of the Year, assets less than $150M: Jack R. Harper, First Service FCU, Groveport, Ohio.
NAFCU's analysis: Jack R. Harper has helped grow First Service FCU from 8,000 members with $27 million in assets to more than 17,000 members with $101 million in assets achieving an average annual loan growth rate of 17.7%, average annual share growth of 15.5% and average annual asset growth of 16.5%. Harper was instrumental in obtaining the CU's community charter and had a vital role in the merger between First Service FCU and a local credit union that offered limited services within a low-income area.
* Professional of the Year, assets $150M or more: Frank E. Berrish, Visions FCU, Endicott, N.Y.
NAFCU's Analysis: Over the last 30 years, Visions FCU CEO Frank E. Berrish has successfully guided the board, management team and employees through a major flood, mergers and acquisitions, loss of a sponsor, credit union name changes, a charter change, and branch and automation expansions. In 1977, Visions FCU was a $46-million dollar credit union; in 2006, it recorded $1.7-billion in assets, making it the largest financial institution in Broome County, N.Y., with 30.69% of the marketshare. At year-end 2006, Visions FCU had 13.59% capital and an expense ratio of 2.01%. Its average asset-to-employee ratio was $5.96 million per employee.
* Volunteer of the Year, assets less than $150M: Raymond Holt, Jr., Energy FCU, Rockville, Md.
NAFCU's Analysis: For 22 years, Holt, the current chairman of Energy FCU has volunteered his time, energy and vision to improve the standing of EFCU and provide greater opportunity for its membership. Through Holt's leadership and tireless enthusiasm, EFCU implemented a nationwide shared branching network with more than 2,500 branches, two nationwide non-surcharge ATM networks with more than 50,000 ATMs, home banking and electronic bill payment via the Internet, in addition to a call center.
* Volunteer of the Year, assets of $150M or more: Burton L. Clyde, Sandia Area FCU, Albuquerque, N.M.
NAFCU's Analysis: Clyde has used his well-honed understanding of leadership developed through his many years as a Cold War Air Force veteran to actualize his vision of providing enhanced member value. During his tenure, Sandia Area FCU has more than tripled in asset size and has continued a rich tradition of growth and success.
While struck with a deep personal loss after the Sandia Area FCU's CEO and executive secretary unexpectedly passed away in 2005, Clyde rose to the challenge to quickly and effectively fill the CEO position, unite staff and build morale. Under the leadership of the board and Clyde, Sandia Area FCU welcomed 5,253 new members in 2006.
