Charlotte Metro Touts Membership Jump
The $290 million Charlotte Metro Credit Union in Charlotte, N.C., added 9,000 new members during its 50th anniversary year, the largest annual membership increase in the credit union’s history.
It now has about 37,200 members.
“Our heightened visibility during our 50th anniversary and a sense of dissatisfaction with banks drove this exceptional member growth,” said Bob Bruns, CMCU president/CEO.
“This increase was the intersection of our 50th anniversary branding and the public’s desire for change,” Bruns said.
Bruns said CMCU spent a lot of time this year educating the public and continues to deliver the message that, as a non-profit, the credit union is able to keep its fees low and save members money. The credit union also spent about 450 hours in credit counseling and certification sessions with members
Other milestones from the first three quarters of CMCU anniversary year:
- Increased overall loan portfolio by 10%,
- Grew net worth more than 14%,
- Expanded market share by over 10%,
- Raised asset growth by more than 11%.
CMCU said it also contributed $31,500 to charities such as Carolinas Credit Union Foundation, American Red Cross for Hurricane Sandy relief, Special Olympics/Charlotte-Mecklenburg Police Department golf tournament and the Carolinas Healthcare Foundation.