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Clarion Federal Credit Union changed its name recently to Top Tier Federal Credit Union.
"As the credit union continues to grow and expand into 13 counties across northwestern Pennsylvania, the decision was made to update the credit union name to align with long term strategic goals," the Clarion, Pa.-based financial cooperative announced on social media July 25.
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The $162 million Top Tier posted a ROAA of 2.23% at the end of the second quarter, up from a ROAA of 1.72% at the end of last year's second quarter, according to NCUA financial performance reports.
The credit union has recorded double-digit loan growth of 18.83% and 17.69% at the end of the first and second quarters, respectively. Its peer average loan growth in the first quarter was 6.86%.
What's more, since December 2018, Top Tier has posted double-digit loan gains and reached 20.81% loan growth at the end of last year, compared to a peer average of 6.24%, NCUA financial performance reports showed.
Top Tier's membership gains have ranged from 5.45% in 2017 to 9.17% in 2021. At the end of the first and second quarters of this year, the credit union had membership growth of 7.34% and 9.28%, respectively, according to NCUA financial performance reports.
Led by President/CEO Mark A. Lauer, Top Tier's 38 employees operate three branches and serve 13,237 members.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
