BURNSVILLE, Minn. — US Federal Credit Union Wednesday announced it has surpassed $1 billion in assets.
USFCU is the second credit union to say it has topped the milestone this month, both from Minnesota.
USFCU, which is the first and oldest credit union in Minnesota, said it reached $1 billion in assets in March, a few months earlier than predicted. It noted this size class is inhabited by just 3% of the nation's 6,400 credit unions.
The credit union currently has 70,000 members. On July 22, it will celebrate 90 years serving the Greater Twin Cities community.
"We did not necessarily plan to hit two milestones so close to each other, but as it turns out, we are excited to celebrate our growth and our longevity twice in 2015," US Fed CEO Bill Raker said in a statement.
Chartered in 1925 by and for the employees of the Minneapolis Post Office, the credit union expanded to a community charter in 2004. It now serves federal employees as well as the entire seven-county Twin Cities metro area, Raker added. It has eight full-service locations, three additional locations within places of employment, plus online and mobile channels. USFCU said its mobile app is accessed more than 150,000 times each month.
"The most exciting chapters in our history are yet to come," Raker said. "We have the energy and the desire to continually improve. As we begin the short trip to our 100th birthday, it will be a genuine thrill to see where we can take our membership next."
