Showing strength and garnering top awards

Cornerstone League recognizes member credit unions’ news about their growth, expansion, and community endeavors to exemplify the “people helping people” philosophy.

Century CU ranks as one of the best-performing credit unions in the U.S.

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St. Louis-based Century Credit Union has been recognized for its outstanding financial performance by S&P Global Market Intelligence, a provider of information services and solutions to global markets. The top 100 financial institutions in the country are recognized by the organization each year.

In the rankings released on March 20, Century ranked No. 77 out of 1,801 credit unions with assets totaling $100 million or more and a robust net worth ratio of at least 7.00% as of Dec. 31, 2023.

Notably, this marks Century's third consecutive year in the esteemed top 100 list. The credit union serves nearly 9,000 residents and workers in the St. Louis area and has $147.5 million in assets.

S&P Global Market Intelligence assesses institutions based on factors including returns, growth, and funding, with a particular emphasis on the resilience and risk management of their balance sheets. Introduced in 2011, these rankings serve to gauge the performance of credit unions and community banks, leveraging five key metrics: member growth, shares and deposits per member, net worth as a percentage of total assets, delinquent loans as a percentage of total loans, and return on average assets.

Nathan Stovall, director of Financial Institutions Research at S&P Global Market Intelligence, emphasized the critical role of quality data and insights, especially in times of volatility: “We are committed to providing transparency through these rankings to help the market make informed decisions.”

TDECU receives 2024 Gallup Exceptional Workplace Award

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TDECU, Houston’s largest credit union, has received the 2024 Gallup Exceptional Workplace Award for the first time in its history. This award placed TDECU among the most engaged workplace cultures in the world, marking a significant milestone in its journey toward excellence in employee engagement. This recognition illuminates the not-for-profit credit union’s ongoing efforts to create a workplace that fosters growth, innovation, and employee well-being.

“We are thrilled and deeply honored to receive the Gallup Exceptional Workplace Award, which highlights our commitment to fostering a culture where every employee feels valued, empowered, and engaged,” said Chief Human Capital Officer Qiara Suggs. “We remain steadfast in our dedication to further enhancing employee engagement and satisfaction. By nurturing a supportive environment, we aim to not only retain our workforce, but also to attract top-tier talent who share our vision and values.”

The ratio of engaged employees to actively disengaged employees among GEWA winners stands at an impressive 11 times higher than the worldwide average. Globally, merely 23% of employees exhibit engagement, indicating commitment and connection to their work environment. In the U.S., only 33% of employees demonstrate engagement. However, TDECU was recognized with a remarkable 71% of employees engaged, emphasizing the effectiveness of their strategies in cultivating a thriving and committed workforce and placing it in the 74% percentile.

“This accolade fuels our journey of growth and transformation, propelling us forward as we strive to elevate the standards of employee engagement, member satisfaction, and banking excellence for the financial service industry,” said TDECU President/CEO Isaac Johnson. “Together, we will continue to innovate, inspire, and shape the future of our credit union, creating lasting impacts in the lives of those we serve.”

Gallup’s meta-analysis on team engagement and performance represents the most extensive workplace study to date, encompassing data from over 2 million employees across 276 organizations spanning 54 industries and 96 countries. The findings reveal that highly engaged organizations like TDECU consistently outshine their counterparts across various critical business metrics, such as customer ratings, profitability, productivity, turnover rates, safety incidents, shrinkage, absenteeism, quality standards, employee well- being, and organizational citizenship.

Texas Trust CU had strong 2023, despite economy’s challenges

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Despite the economy’s financial challenges in 2023, Arlington-based Texas Trust Credit Union recorded a strong year, achieving its highest membership levels ever and holding steady in assets, loan growth, and deposits.

In its annual report, timed for the credit union’s March 21 annual meeting, Texas Trust detailed its accomplishments of the past year and described challenges in its mission of building brighter financial futures for its members. 

“What made it so challenging,” said Jim Minge, CEO of Texas Trust, “was the combination of the Federal Reserve’s interest rate hikes combined with continued inflation. We know that this impacted our members in many ways, as most drew down savings, put off major purchases, and looked for ways to access loans to help them through a tough year.”

Still, Texas Trust was able to grow its membership to more than 137,000, reflecting 18% growth over the past five years. The credit union’s total assets stood at $2.03 billion, up 64% in five years. Loans stood at $1.54 billion, 67% higher than five years ago, and deposits were also at $1.54 billion, up 57% in five years.

Minge noted that Texas Trust last year saw the most robust growth ever in certificates, with $83.5 million in new certificate balances, a 27% increase over 2022. He also pointed to more than 47% growth in signature loans and 30% growth in the Mastercard portfolio.

Other notable accomplishments in 2023 included opening of a new Texas Trust branch in Pantego, establishment of a new location in San Angelo, and the launch of a new website.

Texas Trust Gives Foundation, the credit union’s charitable arm, ramped up its giving to local communities in scholarships, grants, and employee volunteerism in 2023. The foundation recorded more than $266,000 in total giving, with $156,000 in grants, $74,000 in scholarships, and more than $36,000 in donations.

Washima Huq, executive director of the Texas Trust Gives Foundation, noted that since its inception five years ago, the foundation has given half a million dollars back to local communities.