ST. LOUIS — Corporate credit unions have been inundated with cash in recent months and as a result are hitting record asset highs.
Constitution Corporate Federal Credit Union hit the $2 billion asset mark for the first time in its history in March. Constitution is actively pursuing credit unions outside of its home state of Connecticut. It recently added a large New Jersey credit union to its client base.
Missouri Corporate Credit Union has surpassed $1 billion in assets, a new record for the corporate.
“Late last year, we earned the Missouri Quality Award. A few weeks ago, we celebrated our 30th anniversary, and now we've reached a billion dollars in assets,” said Dennis DeGroodt, Missouri Corporate's president and CEO. “We're extremely proud of what our organization has accomplished, and we look forward to continuing to grow with our member credit unions and helping them succeed.”
Missouri Corporate also boasts one of the lowest average monthly fee incomes as a percentage of assets and one of the best reserve ratios among other corporates throughout the country.
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