Charlotte Metro Credit Union (CMCU) added 9,000 new members during its 50th anniversary year, it was announced by Bob Bruns, president. This increase is the largest yearly increase the credit union has ever experienced. A typical year for CMCU is around 6,000 new members.
“Our heightened visibility during our 50th anniversary and a sense of dissatisfaction with banks drove this exceptional member growth,” said Bruns. “This increase was the intersection of our 50th anniversary branding and the public’s desire for change. Once people begin to see that we offer all the products and services a bank does – including online and mobile banking – they realize we’re a less expensive alternative.”
“We spent a lot of time this year educating the public on who we are,” continued Bruns. “We continue to deliver the message that, as a non-profit, we’re able to keep our fees low and save members money.”
While full-year results won’t be available until late January, Bruns said, “We've had a great year so far, and all indications point to that trend continuing through the end of the fourth quarter. It's been a great 50 years, and we’re well-positioned for continued growth.”
CMCU continues to be innovative in the area of technology. The credit union introduced free text banking this year to the portfolio of eServices offered.
Milestones from the first three quarters of the credit union’s anniversary year:
- CMCU increased overall loan portfolio by 10 percent.
- Net worth grew more than 14 percent.
- Market share grew more than 10 percent.
- Asset growth of more than 11 percent.
- About 450 hours spent in credit counseling and certification sessions with our members.
- Contributions of more than $31,500 to charities. The breakdown is: $10,000 to Carolinas Credit Union Foundation specifically for Levine Rooftop Garden and an additional, unrestricted gift to of $5,000 to the Carolinas Credit Union Foundation; $10,000 to the American Red Cross for Hurricane Sandy relief, $5,000 to Special Olympics /Charlotte-Mecklenburg Police Department golf tournament; and $1,500 to the Carolinas Healthcare Foundation.