This week, CreditUnions.com covers the ins and outs of the Juntos Avanzamos certification (and why you might want it), how to hit $1 billion in assets, and asks "What's The Deal With Loan Participations?"
Here are four data points you can't miss:
Community 1st Credit Union became the first credit union in Iowa to earn the Juntos Avanzamos certification — a way for credit unions to underscore their capabilities in providing policies, procedures, and services to meet the financial needs of a Hispanic population.
But the credit union took its certification a step further. It hired someone specifically to work with this emerging market. David Suarez immigrated from Ecuador in 2006 and is now Community 1st's first bilingual community development manager. In "How Community 1st Plans To Build Business With Latinos," Suarez talks about the credit union and the Juntos Avanzamos program.
Today, there are 64 Juntos Avanzamos credit unions in more than 15 states. Each institution is certified as providing products and services needed by the Hispanic communities in the markets they serve — a mix as diverse as the credit unions themselves.
See how the program works and how it assures Latinos that a credit union speaks their language in "How To Earn The Hispanic Credit Union Seal Of Approval (And Why You Want To)."
The fourth quarter of 2016 represented quite an achievement for Texas Trust Credit Union. That was the quarter the institution crossed $1 billion in assets.
Jim Minge took over as CEO for the Texas-based institution more than five years ago. For the past 60 months, the credit union’s No. 1 strategic goal has been to hit 100,000 members. Texas Trust is not quite there yet — membership increased 9.9% year-over-year and totaled 84,568 as of Dec. 31 — but reaching $1 billion in assets has put an exclamation point on five years of impressive growth for the community-based credit union.
Learn more in "A Five-Year Plan To Hit $1B In Assets."
Selling loans to other financial institutions can be an effective way for a credit union to manage its liquidity and interest rate risk. It’s no surprise, then, that this activity is growing in both volume and amount.
Nationwide, credit unions are on track to hit $2.3 billion in participations sold in the fourth quarter. This is the highest ever balance on record. Year-over-year, the industry sold participations totaling nearly $611.6 million and expanded 38.8% between Dec. 30, 2015, and Dec. 30, 2016.
Learn more about this side of the balance sheet and see which credit unions are leading the way in "What's The Deal With Loan Participations."