Living the IAACU Mission

[ 0 ] January 23, 2019 |

IAACU QUICK FACTS
Data as of 12.31.18

HQ: Bloomington, IL
ASSETS: $252.4 Million
MEMBERS: 16,525
12-MO SHARE GROWTH: 4.67%
12-MO LOAN GROWTH: 0.67%

 

The IAA Credit Union’s mission is to Build Financial Relationships to Enrich Members’ Lives.” This statement is important because it articulates the purpose of this institution to our team, to our members and to the community. Our mission helps our team to see the purpose in the work we do and drives us to offer innovative products and services that meet our members’ need for value.

Consider the new IAACU Savers Club as an example of our commitment to enrich our members’ financial lives. This product joins our Vacation and Christmas Clubs to offer easy and convenient ways for our members to save for life events. We developed this product because, according to the Federal Reserve Survey of Consumer Finances, the median saving of Americans under the age of 35 is only $2,000. It’s hard to weather unforeseen expenses, get dependable transportation or put a down-payment on a home with a savings balance of $2,000.

The Savers Club is designed to make it easy to set aside regular contributions, which grow quickly, due to no monthly fees and a great interest rate. The goal of this Club is to get you to SAVE, so until the account exceeds $1,000 there will be a $5 penalty for any withdrawal. Once you have more than $1,000, you can take withdrawals without penalty as long as the balance does not dip below that minimum.  Once you have reached the maturity date, chosen by you when the account is set up, you will receive a notice with options to either withdraw the funds or roll it over and continue saving.

Please go to www.iaacu.org to find out how the IAACU Savers Club could help you or someone you know get started saving.

Thank you for your continued support and membership!

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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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