Business Loans Help CitizensFirst CU Grow in 2005

OSHKOSH, Wis. – CitizensFirst Credit Union’s growth was fueled in large part from its growing business lending program. The credit union saw commercial loans grow more than 34% from $64.5 million in 2004 to $86.5 million in 2005, The Northwestern recently reported. Much of that increase came through CitizensFirst’s part ownership of Business Lending Group, Inc. a CUSO also owned by Fox Communities Credit Union, Prospera Credit Union and Pioneer Credit Union, said Carla Altepeter, president and CEO of CitizensFirst. In other areas, total assets grew from $252.1 million at the end of 2004 to $288.8 million at the end of 2005, the publication reported. Share certificates also grew about 34%, increasing to $86.4 million in 2005 from $64.4 million in 2004. In mid-June, CitizensFirst also opened a new branch in Fond du Lac, the first step of a growth strategy that will make us the CU of Oshkosh, Altepeter said, adding that the Oshkosh branch will not be neglected. “We’re thrilled with it,” Altepeter told the publication on the CU’s growth in 2005. “We believe that we offer our members outstanding products and services and our growth reflects that.”