Growth strategies

Auto lending, mortgages and MBLs are on a tear, and more than half the state's population are now credit union members.

This is the third year the Wisconsin-based CU has returned a "Member Loyalty Cash" reward to members, with $600,000 given back since 2015.

Active members received a percentage on savings account dividends earned and a rebate on loan interest paid throughout 2017.

The credit union’s new name is intended to reflect its electric utility roots, as well as its growth beyond a single-SEG institution.

The company, which sold about $3 million in stock through a private placement, also plans to add branches on Staten Island.

Banks, especially smaller institutions, will be forced to find more ways to differentiate, Bryan Jordan said in an interview that also covered his company's recent purchase of Capital Bank and how tax reform will immediately stimulate the economy.

Neff, who joined the company in 1999, gained oversight of retail banking with the promotion.

The company sold securities in the fourth quarter to stay below $10 billion in assets and avoid a cap on interchange fees.

The credit union saw a net income of more than $26 million during the first three quarters of 2017, after earning more than $42 million in 2016.

The Lakeland, Fla.-based institution reached the milestone in late December following several years of strong growth.