Growth strategies

What was initially dubbed a “Hackathon” actually turned into a game of “Knockout” here, as 100 CU technology execs competed to create innovative tech concepts over a 48-hour period.

Wright-Patt CU believes strong member growth is due to the everyday good work it does, as opposed to the bad practices of banks.

Credit unions added more members–nearly 2.15 million–in the one-year period of June 2011 to June 2012 than they have added in any June-to-June period over the past 13 years.

Joe Kelly, CEO of $36-million S.T.A.R. Community CU, said membership growth is finally slowing down after substantial growth from October 2011 through May of this year.

Spokane Teachers Credit Union has seen its membership hit 110,000 in recent weeks after starting 2012 with 100,000.

San Diego County CU has posted exceptional numbers since Bank Transfer Day, with Executive Vice President ofMarketing and Business Development Nathan Schmidt noting its numbers are roughly three times better than that of the credit union community as a whole.

More members, 7.5% loan growth and a better PFI score than a year ago are all benefits Pennsylvania State Employees CU has seen from Bank Transfer Day.

In the San Francisco Bay Area, $3.7-billion Patelco Credit Union is still seeing a “Bank Transfer Day Effect” long after the actual day itself.

NuMark CU was a big booster of Bank Transfer Day, and one year later membership has increased by more than 7%, nearly double the previous year’s gains.

Matadors Community CU has seen a slight uptick in membership and deposits this year, but is attributing that growth to savvier consumers.

Another credit union has used the kissing booth strategy as a tactic to lure consumers from banks to credit unions. Fire Police City County FCU has been running a “Kiss Your Bank Goodbye” campaign in in response to public frustration over fees at the big banks.

The $7.9-billion The Golden 1 CU has been welcoming 6,000 new members each month in 2012, which CEO Donna Bland said is a marked improvement from the 2,000 to 3,000 it used to see each month.

One year later, Bank Transfer Day is alive and kicking in South Carolina, where CUs across the state are using “Every Day is Bank Transfer Day” as a membership rallying cry.

Membership growth at $10.5-billion BECU has been up 10% to 12% year-over-year for each of the first nine months of 2012.

Affinity Plus FCU was already several months into a “Ditch Your Bank” campaign when Bank Transfer Day hit, and the event helped augment what was already robust growth.

After doing “a pretty big blitz” on Bank Transfer Day the first time around, 66 FCU here is hoping for a repeat performance this November.

HUNTSVILLE, Ala. – Redstone FCU this morning introduced a new CUSO that will offer a variety of low-cost lifeline services, including check cashing, money orders, Western Union money transfers, bill pay, and reloadable prepaid cards to members and non-members.

CLEVELAND – Firefighters Community CU said it has merged into it United Food and Commercial Workers Local 880 CU, a troubled $11 million credit union.

MIAMI LAKES, Fla. – Members of $20 million Mercy (Hospital) CU voted to merge their credit union into $135 million JetStream FCU, creating a credit union, with more than $150 million in assets, eight branch locations, and over 19,000 members throughout Miami Dade County and Puerto Rico.

ALEXANDRIA, Va. – Pentagon FCU said its wholly owned Prudential PenFed Realty CUSO has acquired another full service realtor, Prudential Coastal Properties, a Florida-based agency serving the Panhandle from Pensacola to Panama City.