Thanks a Million (That’s $200 Million!)

[ 0 ] March 28, 2014 |

Your IAA Credit Union has reached a significant milestone; our assets have grown to over $200 million! This places IAACU in the $200 to $500 million peer group – that’s the top 15 percent of the country’s 7,000 credit unions by asset size.

Also, over the past three months, IAACU’s membership has grown to the highest level in our 63 year history rapidly approaching a milestone of 15,000 memberships.  We offer you, our members, a sincere thank-you for the trust and loyalty you have given us which directly led to the achievement of these milestones.

Attainment of such milestones causes one to consider how and why IAACU has grown while others have shrunk, merged or ceased to exist.  I believe it is directly related to our priorities; IAACU’s number one goal is to provide a significant value to ALL our members, rather than focusing on maximizing profit for a handful of stockholders. After all, we are owned by our members and run by a volunteer board, elected from that membership – you are our priority!Thanks

Feedback IAACU received from a first quarter 2014 survey identified five priorities people desire from their banking institution: 1) Convenience, 2) Communication, 3) A Professional and Knowledgeable Staff, 4) Low Fees, 5) Competitive Rates.  This feedback validated my suspicions as to why we have met these recent milestones – these priorities are our priorities.

Each individual on our team embraces the idea of “I am the credit union” – taking ownership of the success of this institution and our ability to continue to serve our members and advance their financial well-being.  We will do this by remaining well-capitalized and making conservative financial decisions while returning the maximum value possible to our members, employees and sponsoring companies.

True to the International Credit Union mantra we embrace the “people helping people” philosophy.  It continues to be my honor to oversee the staff and operations of IAACU to serve the people who trust us with their finances.

We offer our sincere gratitude for your membership and continued support of IAACU!

 

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Category: CEO Corner

About the Author ()

Sean has held the position of Chief Executive Officer at the IAA Credit Union since June of 2005. In this position, he is responsible for the overall management of the $200 million financial institution, assuring financial strength while providing maximum value to its members. Also, he ensures that the Credit Union complies with all State and Federal laws and operates within the policies and expectations of the IAACU Board of Directors. He is a 1986 graduate of Illinois State University where he received a Bachelor of Science Degree in Agribusiness with a minor in Economics. He has also completed the coursework and received the CPCU, ChFC and CLU insurance industry designations. Sean served a combined 20 years in the United States Air Force and Air National Guard as an Aircraft Maintenance Officer retiring in 2002 at the rank of Major. Sean and his wife Kim have five children and reside northeast of Eureka, Illinois in Woodford County.

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