20131223-NEWS--6-NAT-CCI-CL_--
6
12/18/2013
10:01 AM
Page 1
CRAIN’S CLEVELAND BUSINESS
INSIDETHELIST
V
arious statistical measures for Northeast Ohio’s largest credit unions reflected the economy’s modest recovery in 2012. The 10 largest credit unions on this year’s Crain’s list, ranked by assets as of Dec. 31, 2012, totaled $2.584 billion in assets. That represented an increase of 5.3% from assets of $2.454 billion for the 10 largest credit unions on last year’s list, measuring assets as of Dec. 31, 2011. Nine of the top 10 on this year’s list were on last year’s list, mostly in the same order. The lone addition to the top 10 this year was VacationLand Federal Credit Union in Sandusky, which rose to No. 10 from No. 12 on the previous year’s list. Its assets increased 6%, to $147.7 million as of Dec. 31, 2012, from $139.3 million on Dec. 31, 2011. Dropping out of the top 10 was Lormet Community Federal Credit Union in Amherst, where assets rose but at a slower rate, to $146.9 million from $145.7 million. The top 10 on this year’s list also made progress in attracting more members. Those credit unions had 273,973 members as of Dec. 31, 2012, up about 1.5% from 269,928 members the prior year. Leading the way in the membership gain was CSE Federal Credit Union in Canton, which for this year’s list reported 34,314 members, up 16.5% from 29,443 members on last year’s list. CSE is open to anyone who lives, works, worships or attends school in Stark County. By the value of loans outstanding, activity also has picked up at the top 10 credit unions. On this year’s list, the top 10 had a total of $1.567 billion in loans outstanding, up 11.3% from 1.409 billion in loans outstanding for the prior year. While last year’s list had only five credit unions with loans outstanding in excess of $100 million — Seven Seventeen Credit Union in Warren, Century Federal Credit Union in Cleveland, GenFed Financial Credit Union in Akron, Firefighters Community Credit Union in Cleveland and CSE — this year’s list included those five and one addition: Cardinal Community Credit Union in Mentor. Cardinal’s loans outstanding rose about 25%, to $117.9 million as of Dec. 31, 2012, from $94.3 million as of Dec. 31, 2011. Here are a couple other tidbits related to the list: ■ Changes in asset levels were most pronounced at the top of the list. Three of the four largest percentage increases in assets were from credit unions in the top 10: CSE (up 15.3%), Cardinal (up 9.5%) and Firefighters (up 8.7%). Lakeview Federal Credit Union in Ashtabula, No. 21 on this year’s list, saw assets rise 9% to $86.3 million from $79.2 million as of Dec. 31, 2012. ■ Among the top 10 credit unions on this year’s list, three have new CEOs since last year’s list: Sharon Churchill at Century Federal, Todd Turner at Ohio Catholic Federal Credit Union and Bryan P. Myers and VacationLand. — Scott Suttell
WWW.CRAINSCLEVELAND.COM
DECEMBER 23, 2013 - JANUARY 5, 2014
CREDIT UNIONS
RANKED BY DEC. 31, 2012 ASSETS
Name Address Rank Phone/Web site
Assets (millions) Dec. 31, Dec. 31, 2012 2011
% change
Loans (millions) Number of Dec. 31, 2012 members
Membership groups
Top executive Title
1
Seven Seventeen Credit Union 3181 Larchmont Ave. NE, Warren 44483 (330) 372-8100/www.sscu.net
$829.9
$775.7
7.0%
$518,894,977
70,418
Live, work, worship, attend school in Soukenik Trumbull, Mahoning, Columbiana, Portage or Gary CEO central Stark County communities
2
Century Federal Credit Union 1240 E. Ninth St., Room 719, Cleveland 44199 (216) 535-3200/www.cenfedcu.org
$338.3
$315.0
7.4%
$212,208,054
27,768
Open to federal government agencies and any Northeast Ohio business, association, municipality or educational institution
Sharon Churchill president, CEO
3
Firestone Federal Credit Union 31 Hanna Parkway, Akron 44319 (234) 352-1100/www.fofcu.com
$223.2
$233.4
-4.4%
$35,662,000
12,285
Bridgestone/Firestone employees
Wayne A. Chapman president, CEO
4
GenFed Financial Credit Union 2492 Wedgewood Drive, Suite B, Akron 44312 (330) 784-5451/www.genfed.com
$193.6
$182.6
6.0%
$129,226,709
20,572
Lorain, Erie, Summit and Medina counties; Ford, ASW, Reiter Dairy, Quality Mold, Rubbermaid, other local companies
Joyce R. Jones president, CEO
5
Firefighters Community Credit Union 2300 St. Clair Ave., Cleveland 44114 (216) 621-4644/www.ffcommunity.com
$193.5
$178.1
8.7%
$138,151,172
27,507
Open to everyone in Cuyahoga and Lake counties
Ben Laurendeau president, CEO
6
CSE Federal Credit Union 1380 Market Ave. North, Canton 44714 (330) 452-9801/www.csefcu.com
$172.3
$149.4
15.3%
$132,426,695
34,314
Open to persons who live, work, worship or attend school in Stark County
R. Stanley Barnes CEO
7
Cardinal Community Credit Union 8500 Westport Drive, Mentor 44060 (440) 266-2200/www.cardinalcu.com
$171.0
$156.2
9.5%
$117,910,600
19,273
All who work, live, attend school or worship in Cuyahoga, Lake, Geauga and Ashtabula counties
Christine Blake president, CEO
8
BFG Federal Credit Union 445 S. Main St., Akron 44311 (330) 374-2990/www.bfgfcu.org
$160.7
$161.8
-0.7%
$91,596,563
29,046
J. Individuals who live, work, worship, volunteer Michael Owens or attend school in Summit County president, CEO
9
Ohio Catholic Federal Credit Union 13623 Rockside Road, Garfield Heights 44125 (216) 663-6800/www.ohiocatholicfcu.com
$154.1
$155.9
-1.2%
$97,326,115
16,781
Any person connected with the Catholic Diocese of Cleveland and/or Diocesan parishes, schools, or organizations
Todd R. Turner CEO
10
VacationLand Federal Credit Union 2409 E. Perkins Ave., Sandusky 44870 (419) 625-9025/www.vlfcu.org
$147.7
$139.3
6.1%
$94,013,481
16,009
Lives, works, worships or attends school in Erie County
Bryan P. Myers CEO
11
Associated School Employees Credit Union(1) 1690 S. Canfield Niles Road, Youngstown 44515 (330) 792-4000/www.asecu.com
$147.1
$144.5
1.8%
$59,812,009
17,689
Lives, works, worships or attends school in Mahoning, Trumbull or Columbiana counties
Michael Kurish president, CEO
12
Lormet Community Federal Credit Union 2051 Cooper Foster Park Road, Amherst 44001 (440) 960-6600/www.lormet.com
$146.9
$145.7
0.8%
$75,144,675
20,047
Lorain County residents
Daniel R. Cwalina president, CEO
13
School Employees Lorain County Credit Union Inc. 340 Griswold Road, Elyria 44035 (440) 324-3400/www.selccu.org
$139.0
$136.3
2.0%
$60,931,943
11,736
Employees and students of educational T. Binkley entities in Lorain County, other miscellaneous Brent president, CEO employer groups
14
Ohio Educational Credit Union 2554 E. 22nd St., Cleveland 44115 (216) 621-6296/www.ohecu.com
$121.5
$118.0
3.0%
$86,623,085
18,731
Employees, students and alumni of public and private schools and colleges in Ohio
Jerome R. Valco CEO
15
PSE Credit Union Inc. 5225 Regency Drive, Parma 44129 (440) 843-8300/www.psecreditunion.org
$115.8
$112.4
3.1%
$45,915,028
21,674
Anyone who lives, works, worships or attends school in Cuyahoga or Medina counties
Janice L. Thomas president, CEO
16
Towpath Credit Union(2) 2969 Smith Road, Akron 44310 (330) 664-4700/www.towpathcu.com
$114.2
$114.0
0.2%
$46,648,084
20,826
Lives, works, worships or attends school in Akron, Fairlawn, Cuyahoga Falls, Bath and townships of Copley and Richfield
Rose Bartolomucci president, CEO
17
Stark Federal Credit Union(1) 4100 Dressler Road NW, Canton 44718 (330) 493-8325/www.starkcu.org
$102.7
$100.7
2.0%
$36,428,703
13,733
Anyone who lives, works, worships or attends school in Stark or Carroll counties
Nino J. Gemma president, CEO
18
Best Reward Credit Union 5681 Smith Road, Brook Park 44142 (216) 367-8000/www.bestrewardcu.coop
$95.5
$95.4
0.1%
$30,746,837
12,852
Live, work, worship or attend school in Cuyahoga, Lake, Geauga, Medina, Summit, Lorain and Portage counties
John J. Shirilla president, CEO
19
Golden Circle Credit Union(1) 4118 Lincolnway E., Massillon 44646 (330) 479-3130/http://goldencirclecu.com
$92.6
$96.6
-4.2%
$31,502,138
13,147
Live in Stark County
Jeffrey J. McClain CEO
20
Cleveland Selfreliance Federal Credit Union 6108 State Road, Parma 44134 (440) 884-9111/www.clevelandselfreliance.com
$89.7
$86.8
3.4%
$39,577,863
4,167
Ukrainian American community
Orest Liscynesky treasurer, manager
21
Lakeview Federal Credit Union 2909 State Road, Ashtabula 44004 (440) 998-2707 /www.lakeviewfcu.com
$86.3
$79.2
9.0%
$48,349,049
8,495
Live, work or worship in Ashtabula County
Sherry S. Cornell president, CEO
22
Buckeye State Credit Union 155 E. Voris St., Akron 44311 (330) 253-9197/www.buckeyecu.org
$82.3
$77.4
6.3%
$39,611,034
17,465
Community membership in Shaker Heights and Summit, Stark, and Lake counties
Norma S. Preston CEO
23
Unity Catholic Federal Credit Union 5839 Ridge Road , Parma 44129 (440) 886-2558/www.unitycatholiccu.org
$70.0
$68.3
2.5%
$31,383,054
11,665
Parishioners, families, students, employees Tamlyn M. and organizations within the Catholic Diocese Straightof Cleveland and the Eparchy of Parma Schervish, CEO
24
Community First 2043 E. Prospect Road, Ashtabula 44004 (440) 997-5919/www.hereforeveryoneonline.com
$69.9
$67.8
3.1%
$23,506,900
6,300
Live, work, worship in Ashtabula County
Mike Riesterer CEO
25
Taleris Credit Union Inc. 1250 E. Granger Road, Cleveland 44131 (216) 739-2300/www.taleriscu.org
$69.2
$69.7
-0.8%
$44,831,980
9,736
Individuals who live, work, worship or attend school in Cuyahoga County and select groups and organizations
Robin D. Thomas president, CEO
26
Medina County Federal Credit Union 1353 Reimer Road, Wadsworth 44281 (330) 334-1023/www.mcfcu.com
$66.5
$61.8
7.5%
$22,685,985
7,755
Open to anyone who lives, works, worships or educates in Medina County
Bud Herrle chairman
27
Community One Credit Union of Ohio 6583 Frank Ave. NW, North Canton 44720 (330) 305-3050/www.c1cu.com
$66.1
$61.1
8.3%
$30,337,000
6,135
Serving Stark County
Evelyn L. Canterbury president, CEO
28
Eaton Family Credit Union 333 Babbitt Road, Euclid 44123 (216) 920-2000/www.eatonfamilycu.com
$55.5
$52.1
6.5%
$38,616,931
13,336
Eaton Corp, City of Euclid, Lake County, Cuyahoga County
Michael Losneck CEO
29
Community Star Credit Union 832 Cleveland St., Elyria 44035 (440) 365-7342/www.commstar.org
$51.1
NA
NA
NA
NA
Membership is open to the public
Ernie Jackson president, CEO
30
Emerald Group Credit Union Inc. 13201 Granger Road, Garfield Heights 44125 (216) 581-5581/www.emeraldgcu.com
$50.4
$48.7
3.5%
$32,604,268
8,315
Individuals who live, work, worship or attend school in Cuyahoga County
Wendy Driver CEO
Information is supplied by the companies unless footnoted. Crain's Cleveland Business does not independently verify the information and there is no guarantee these listings are complete or accurate. (1) Information is from the National Credit Union Administration, www.ncua.gov. (2) Information from creditunions.com. Originally published May 6, 2013.