LAS VEGAS — Mountain America Credit Union may have been at the epicenter five years ago of what many saw as crippling banker attacks, but today the $2.3 billion Salt Lake City CU enjoys unparalleled 25% new member growth, 1.64 ROA and 8.8% capital, its president/CEO Gordon Dames told directors Thursday.
"We're obviously pretty happy about our record which we simply attribute to our SEG development," declared Dames who spoke at a break-out session at the 30th annual National Directors Convention winding up its four-day conference here.
Mountain America's SEG growth includes capturing 1,500 SEGs and with it 15,000 business accounts in Utah and several Mountain States over a four-year period.
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"We've made sure we are represented at every one of those chamber meetings where we have branches and our managers simply smile at the bankers when we meet up with them," said Dames in detailing some of the steps it took since the Salt Lake City CU was forced by the banker-influenced Utah legislature to convert to a federal charter in 2003.
As for CU nemesis Harris Simmons, the Zions Bancorp chairman and ex-head of the ABA, he is a "non-entity today" in Mountain America's strategic growth plan, said Dames. "I don't give him a seconds thought."
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