Minnesota CUSO Touts Record Revenue Growth
CU Companies said Tuesday its revenue increased by more than 120% and its net income grew by more than 600% from 2011.
The financials posted on Aug. 30, which is the end of the CUSO’s fiscal year.
The New Brighton, Minn.-based company said it also reported a positive bottom line of just over $5 million before taxes.
“These significant advancements are thanks to our development efforts over the last two years,” said Brad Crandall, CEO of CU Companies. “We renewed our focus on service and then reviewed our strategic vision, choosing a path that would build upon our previous successes, diversify our balance sheet enough to manage economic change, and more easily open doors for our other business units.”
Founded in 1987 by three Minnesota credit unions as a mortgage CUSO, CU Companies has since evolved to include subsidiaries in the title, realty, investment and member business lending areas.