The tributes pouring in last month on a milestoneachievement–100 years in operation–have stopped, and now the $17million St. Anne Credit Union of New Bedford, Mass. faces achallenge: build loan volume and reduce the red ink, a task sharedby many small CUs.

Elizabeth Gatenby, the CEO of St. Anne, the third oldest CU inthe state, acknowledges the job ahead may be tough given thecompetition but her CU expects to try new services it lacks likemobile banking.

Gatenby and other leaders of St. Anne were roundly toasted bystate and local leaders in ceremonies last month for persevering inMassachusetts' historic port “as a company that stayed in the cityand remained active by demonstrating quality service to the publicfor a hundred years.”

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