Columbus Credit Union: Innovation and a Spirit of Exploration Befitting Their Namesake

In fourteen hundred ninety-two, Columbus sailed the ocean blue. In this the year of two thousand and six, Columbus Credit Union shines above the mix!

In fourteen hundred ninety-two
Columbus sailed the ocean blue.

He had three ships and left from Spain;
He sailed through sunshine, wind and rain.

Four hundred fifty-eight years and four days after Christopher Columbus landed in the Americas, thirty-seven members attended the first annual meeting of Columbus Credit Union ($4 million in Warren, RI).

He sailed by night; he sailed by day;
He used the stars to find his way.

A compass also helped him know
How to find the way to go.

While Christopher Columbus needed a compass to guide him in his travels, Columbus CU needs no compass. As depicted in the graph below, its second-quarter growth rates are double the industry averages for member, share and asset growth. Christopher Columbus valued expansion (he was an explorer, after all), and clearly Columbus CU emulates this value in its continued off-the-chart expansion.

As an explorer, Christopher Columbus also valued learning and discovery. Columbus CU mirrors these values in the amount it spends on educational and promotional materials. The industry average for this expense is $5.14 per member. Columbus CU spends 37% more than this, an average of $8.18 per member.

Columbus Credit Union’s current performance reflects the values of growth not only in material goods, but also in knowledge, put forth by Christopher Columbus over five hundred years ago. As we celebrate the monumental “discovery” of the Americas by Christopher Columbus, let us also celebrate Columbus CU, a small institution with big ideas -- ideas that have enabled it to grow, prosper, thrive, and expand.

Looking for more interesting credit union information? Pre-order the Callahan’s 2007 Credit Union Directory. This updated online edition allows unique access to the latest information available. In addition, all of the graphs used in this edition are available in PowerPoint as a State of the Industry presentation for staff, directors and members. With new information posted daily through our powerful company data engine, there isn’t a more up-to-date source of credit union data anywhere in the industry.




Oct. 9, 2006



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