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Consumers Credit Union

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Consumers Credit Union
Company typeCredit Union
IndustryFinancial Services
Founded1951 in Kalamazoo, Michigan
Headquarters
Kalamazoo, Michigan
,
United States
Number of locations
20
Websiteconsumerscu.org

Consumers Credit Union is a credit union founded in 1951 and is headquartered in Kalamazoo, Michigan.[1] In January 2019, they had 20 locations, 86,268 members, and almost 300 employees.[1][2]

History

Consumers Credit Union was founded in 1951 with a single location.[3] It was originally called Kalamazoo Consumers Power Company (KCPC) Employees Federal Credit Union, a credit union for employees of Consumers Energy.[4] Consumers became a state-chartered credit union in 1964 and its services grew to include employees of the Palisades nuclear power plant in Covert, Michigan.[5]

Kit Snyder was named the CEO in 1984.[6] The name changed in 1987 to its current Consumers Credit Union.[7] In 1988, they began allowing employees of companies located in the city of Kalamazoo to become members.[5]

In 2017, Consumers Credit Union moved their headquarters into a new administrative center located in The Groves Engineering Business Technology Park in Kalamazoo.[1] Plans for the new headquarters were announced in 2015.[8]

Growth

In 2009, Consumers stated they had a 225% increase in deposits since 2005.[9] In 2013, they reported a 22% growth in their workforce over the prior 24 months.[10] As of September 30, 2017, Consumers had $921 million in total assets and a recorded net income of $9.1 million in the first three quarters of the year.[11] In 2018, Consumers Credit Union surpassed $1 billion in assets.[12]

Awards and recognition

Consumers Credit Union has been included on 101 Best & Brightest West Michigan Companies lists released by the National Association for Business Resources from 2007-2019.[13] [14] They were also included their National 101 Best & Brightest Companies lists from 2013-2017 and their Nation’s Best and Brightest in Wellness list in 2017 and 2019.[15][16][17] [18]

Corp! Magazine included Consumers Credit Union on a list of top Michigan-based companies in 2009 and named them an economic bright spot in Michigan in 2017, 2018, and 2019.[19][20][21] [22]

MiBiz ranked Consumers Credit Union as a top Michigan credit union in 2013.[23] In 2017 and 2018, Credit Union Journal ranked Consumers Credit Union as a top credit union to work for.[24][25] Healthiest Employers included Consumers Credit Union on lists of the 100 Healthiest Workplaces in America in 2016 and 2017.[26]

2019 Iconic Award from the Best and Brightest Companies

S&P Global Market Intelligence Announces Best-Performing Community Banks and Credit Unions for 2018 – 40th, 2nd Michigan [27]

Revue Magazine’s Best of the West reader’s poll – Second Place – Best Bank/Credit Union [28]

2019 Best Credit Unions to Work For by the Credit Union Journal [29]

Michigan Veterans Affairs Agency – Silver – 2019 Veteran-Friendly Employer Award; Less than 9% of employers have reached the Silver level of certification. We were the 25th Silver employer. [30]

Wonderful Workplace Award from 269 Magazine

References

  1. ^ a b c Watson, Rachel (5 January 2018). "Credit union moves into new headquarters". Grand Rapids Business Journal. Retrieved 20 August 2018.
  2. ^ Jones, Al (8 January 2019). "Consumers Credit Union opens huge new headquarters". MLive. Retrieved 20 August 2018.
  3. ^ Kalamazoo Gazette staff (20 July 2010). "Consumers Credit Union says new Kalamazoo location is a perfect fit". MLive. Retrieved 20 August 2018.
  4. ^ Jones, Al (23 July 2012). "Consumers Credit Union grows; will dedicate two new branches". MLive. Retrieved 20 August 2018.
  5. ^ a b Harger, Jim (14 February 2014). "Kalamazoo credit union moving into Kent County with plans for two new branches". MLive. Retrieved 20 August 2018.
  6. ^ Fredericks, Jake. "How Did I Get Here? - Kit Snyder (C.C.E.)". 269 Magazine. Retrieved 20 August 2018.
  7. ^ "Company Overview of Consumers Credit Union". Bloomberg. Retrieved 20 August 2018.
  8. ^ Jones, Al (26 May 2015). "Consumers Credit Union has two big building projects in the works". MLive. Retrieved 20 August 2018.
  9. ^ Nixon, Alex (14 December 2009). "Financial crisis steering more banking business to smaller institutions". MLive. Retrieved 20 August 2018.
  10. ^ Jones, Al (7 February 2013). "Growth at Kalamazoo-based Consumers Credit Union includes 21 new employees". MLive. Retrieved 20 August 2018.
  11. ^ Sanchez, Mark (4 January 2018). "Consumers Credit Union moves to new headquarters". Retrieved 20 August 2018.
  12. ^ Angell, Melissa (1 August 2018). "Consumers Credit Union surpasses $1 billion in assets". Retrieved 20 August 2018.
  13. ^ "West Michigan's 2018 Best and Brightest Companies to Work For". Best and Brightest. Retrieved 25 September 2018.
  14. ^ "West Michigan's Best and Brightest". The Best and Brightest. Retrieved 18 December 2019.
  15. ^ "2016 best and Brightest Companies to Work for in the Nation". Best and Brightest. Retrieved 25 September 2018.
  16. ^ "Best and Brightest Companies to Work for in the Nation 2017" (PDF). Best and Brightest. Retrieved 25 September 2018.
  17. ^ "The Nation's Best and Brightest in Wellness". Best and Brightest. Retrieved 25 September 2018.
  18. ^ "West Michigan's Best and Brightest". The Best and Brightest. Retrieved 18 December 2019.
  19. ^ Blanchard, Rachel (4 February 2009). "Michigan: A Great Place to Do Business". Corp! Magazine. Retrieved 25 September 2018.
  20. ^ Turner, Mike (15 June 2017). "Celebrating growth in Michigan continues with this year's Economic Bright Spots". Corp! Magazine. Retrieved 25 September 2018.
  21. ^ Turner, Mike (21 June 2018). "Corp! highlights area's Economic Bright Spots winners". Corp! Magazine. Retrieved 25 September 2018.
  22. ^ "Michigan's Economic Bright Spots". Corp Magazine. Retrieved 18 December 2019.
  23. ^ "Top Credit Unions" (PDF). MiBiz. 11 November 2013. Retrieved 25 September 2018.
  24. ^ King, W.B. (18 September 2017). "The Best Credit Unions to Work For". Credit Union Journal. Credit Union Journal. Retrieved 25 September 2018.
  25. ^ King, W.B. (21 September 2018). "The Best Credit Unions to Work For". Credit Union Journal. Credit Union Journal. Retrieved 25 September 2018.
  26. ^ "The Healthiest 100 Workplaces in America". Healthiest Employers. Retrieved 25 September 2018.
  27. ^ "2018 Credit Union Rankings". SP Global. Retrieved 18 December 2019.
  28. ^ "Best of the West Services and People Winners". Revue WM. Retrieved 18 December 2019.
  29. ^ "The Best Credit Unions to work for with assets over 1B". CU Journal. Retrieved 18 December 2019.
  30. ^ "Certified Veteran-Friendly Employers". Michigan Veterans Affairs Agency. Retrieved 18 December 2019.
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