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Firstmark Surpasses Milestone of $1B in Managed Assets in 4Q 2015
Tuesday, January 26, 2016 6:45 AM

Firstmark Credit Union has announced that it surpassed $1 billion in managed assets during the fourth quarter of 2015.

“This achievement marks an important milestone in our strategy to expand our membership and strengthen the communities we serve,” said Firstmark Credit Union Chairman of the Board Donald Pinson. “The goal to reach $1 billion was actually set in motion several years ago by [former president/CEO] Leon Ewing. We are especially proud to have it realized prior to his retirement at the end of last year.”

Firstmark recently announced the hiring of Nathanael Tarwasokono as its new president and CEO. “Firstmark experienced remarkably healthy, sustainable growth under the leadership of Leon Ewing,” said Tarwasokono. “Today, as a billion-dollar organization, we now have greater efficiencies and additional resources to serve our members and greater community.”

Over the past two years, the credit union has added five new branches (including one in nearby Fredericksburg, Texas) and grown to serve more than 100,000 members.

Two mergers have also contributed to Firstmark’s growth. In 2013, Southside Credit Union merged into Firstmark, bringing more than 3,000 members and more than $20 million in assets. More recently, St. Joseph’s Credit Union merged into Firstmark. That merger added more than 6,000 members and more than $40 million in assets.

“The continuous growth that Firstmark has experienced gives our members confidence that our credit union is financially strong and well-positioned for future expansion,” said Tarwasokono. “I’m excited to be part of this milestone in Firstmark’s history. I’m looking forward to building on this momentum and leading us forward to a promising future.”

Firstmark Credit Union was originally established in 1932 by a group of San Antonio educators as San Antonio Teachers Credit Union. Over the years, the credit union expanded its field of membership to not only support school district employees from Bexar County but also anyone who lives, works, worships, or attends school in Bexar County and the 12 surrounding counties, including businesses in those locations. In 2003, the credit union officially changed its name to Firstmark Credit Union. Today, Firstmark serves more than 100,000 members and manages more than $1 billion in assets. For more information, please visit firstmarkcu.org.