Tuesday, December 11, 2012

Charlotte Metro Credit Union posts largest yearly membership increase

Charlotte Metro Federal Credit Union said Tuesday that it increased its membership by 9,000 in the past year, the largest annual increase it has ever seen.

This year also marked the credit union's 50th anniversary. In October, Charlotte Metro announced a marketing campaign touting its growth and billing itself a better alternative to banks as the largest institutions weigh new and increased fees.

Charlotte Metro typically grows by 6,000 members in a year.

“Our heightened visibility during our 50th anniversary and a sense of dissatisfaction with banks drove this exceptional member growth,” CEO Bob Bruns said in a statement. “This increase was the intersection of our
50th anniversary branding and the public’s desire for change."

In the first three quarters of 2012, Charlotte Metro also grew its loans 10 percent and assets by 11 percent.

It now has about $290 million in assets, ranking it as a mid-size credit union. For comparison, State Employees Credit Union, the state's largest, has more than $25 billion.