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Generations FCU Celebrates Half-Billion in Assets Milestone
Monday, May 12, 2014 6:40 AM

Generations FCU Celebration
To celebrate, Generations FCU held a staff event at Dave and Busters. The credit union put $519 in a money blowing machine ($519M is the credit union’s asset size as per its 3/31/14 call report) and staff got a chance to grab for the cash.

Generations FCU recently celebrated a milestone by achieving $519 million in assets as reported on their March 31, 2014 National Credit Union Administration (NCUA) Call Report. Generations serves nearly 50,000 members and offers 12 branches across Bexar County, with two additional branches opening in summer 2014.

“Reaching half-a-billion in assets was a three-year goal, so for our staff to achieve that within 16 months is exceptional,” said Steve Schipull, Generations FCU president and CEO.  “But what I’m most proud of is that this wasn’t growth for growth’s sake, it was both strategic and strong.”

The credit union’s asset size has grown 32 percent since Nov. 5, 2012 when Schipull was appointed to the role of CEO.  At that time, the credit union had $392M in assets.

“We’ve worked very hard to roll out products and services that not only appeal to our current members, but also attract new ones.  With these additions, we are now competitive with some of the largest banks in the country and yet at the same time meet the service level expectations our members have come to appreciate,” said Schipull.

Generations was founded in 1940 at the cusp of the Great Depression, and over the years was the first credit union in the area to offer checking accounts, debit cards and electronic records management.  In 2013, Generations was named as having the top credit union youth financial education program in the country with the receipt of the National Desjardins Youth Financial Education award.

“San Antonio is a town that embraces the credit union dynamic. Members know that when they open an account with Generations, they are making an investment in their financial future,” concluded Schipull.