Consumers Credit Union

Consumers Credit Union is a credit union founded in 1951 and is headquartered in Kalamazoo, Michigan.[1] In January 2019, they had 20 locations, 86,268 members, and almost 300 employees.[1][2]

Consumers Credit Union
Credit Union
IndustryFinancial Services
Founded1951 in Kalamazoo, Michigan
Headquarters
Kalamazoo, Michigan
,
United States
Number of locations
20
Websiteconsumerscu.org

History

Consumers Credit Union was founded in 1951 with a single location.[3] It was originally called Kalamazoo Consumers Power Company (KCPC) Employees Federal Credit Union, a credit union for employees of Consumers Energy.[4] Consumers became a state-chartered credit union in 1964 and its services grew to include employees of the Palisades nuclear power plant in Covert, Michigan.[5]

Kit Snyder was named the CEO in 1984.[6] The name changed in 1987 to its current Consumers Credit Union.[7] In 1988, they began allowing employees of companies located in the city of Kalamazoo to become members.[5]

In 2017, Consumers Credit Union moved their headquarters into a new administrative center located in The Groves Engineering Business Technology Park in Kalamazoo.[1] Plans for the new headquarters were announced in 2015.[8]

Growth

In 2009, Consumers stated they had a 225% increase in deposits since 2005.[9] In 2013, they reported a 22% growth in their workforce over the prior 24 months.[10] As of September 30, 2017, Consumers had $921 million in total assets and a recorded net income of $9.1 million in the first three quarters of the year.[11] In 2018, Consumers Credit Union surpassed $1 billion in assets.[12]

Awards and recognition

Consumers Credit Union has been included on 101 Best & Brightest West Michigan Companies lists released by the National Association for Business Resources from 2007-2019.[13] [14] They were also included their National 101 Best & Brightest Companies lists from 2013-2017 and their Nation’s Best and Brightest in Wellness list in 2017 and 2019.[15][16][17] [18]

Corp! Magazine included Consumers Credit Union on a list of top Michigan-based companies in 2009 and named them an economic bright spot in Michigan in 2017, 2018, and 2019.[19][20][21] [22]

MiBiz ranked Consumers Credit Union as a top Michigan credit union in 2013.[23] In 2017 and 2018, Credit Union Journal ranked Consumers Credit Union as a top credit union to work for.[24][25] Healthiest Employers included Consumers Credit Union on lists of the 100 Healthiest Workplaces in America in 2016 and 2017.[26]

2019 Iconic Award from the Best and Brightest Companies

S&P Global Market Intelligence Announces Best-Performing Community Banks and Credit Unions for 2018 – 40th, 2nd Michigan [27]

Revue Magazine’s Best of the West reader’s poll – Second Place – Best Bank/Credit Union [28]

2019 Best Credit Unions to Work For by the Credit Union Journal [29]

Michigan Veterans Affairs Agency – Silver – 2019 Veteran-Friendly Employer Award; Less than 9% of employers have reached the Silver level of certification. We were the 25th Silver employer. [30]

Wonderful Workplace Award from 269 Magazine

References
  1. Watson, Rachel (5 January 2018). "Credit union moves into new headquarters". Grand Rapids Business Journal. Retrieved 20 August 2018.
  2. Jones, Al (8 January 2019). "Consumers Credit Union opens huge new headquarters". MLive. Retrieved 20 August 2018.
  3. Kalamazoo Gazette staff (20 July 2010). "Consumers Credit Union says new Kalamazoo location is a perfect fit". MLive. Retrieved 20 August 2018.
  4. Jones, Al (23 July 2012). "Consumers Credit Union grows; will dedicate two new branches". MLive. Retrieved 20 August 2018.
  5. Harger, Jim (14 February 2014). "Kalamazoo credit union moving into Kent County with plans for two new branches". MLive. Retrieved 20 August 2018.
  6. Fredericks, Jake. "How Did I Get Here? - Kit Snyder (C.C.E.)". 269 Magazine. Retrieved 20 August 2018.
  7. "Company Overview of Consumers Credit Union". Bloomberg. Retrieved 20 August 2018.
  8. Jones, Al (26 May 2015). "Consumers Credit Union has two big building projects in the works". MLive. Retrieved 20 August 2018.
  9. Nixon, Alex (14 December 2009). "Financial crisis steering more banking business to smaller institutions". MLive. Retrieved 20 August 2018.
  10. Jones, Al (7 February 2013). "Growth at Kalamazoo-based Consumers Credit Union includes 21 new employees". MLive. Retrieved 20 August 2018.
  11. Sanchez, Mark (4 January 2018). "Consumers Credit Union moves to new headquarters". Retrieved 20 August 2018.
  12. Angell, Melissa (1 August 2018). "Consumers Credit Union surpasses $1 billion in assets". Retrieved 20 August 2018.
  13. "West Michigan's 2018 Best and Brightest Companies to Work For". Best and Brightest. Retrieved 25 September 2018.
  14. "West Michigan's Best and Brightest". The Best and Brightest. Retrieved 18 December 2019.
  15. "2016 best and Brightest Companies to Work for in the Nation". Best and Brightest. Retrieved 25 September 2018.
  16. "Best and Brightest Companies to Work for in the Nation 2017" (PDF). Best and Brightest. Retrieved 25 September 2018.
  17. "The Nation's Best and Brightest in Wellness". Best and Brightest. Retrieved 25 September 2018.
  18. "West Michigan's Best and Brightest". The Best and Brightest. Retrieved 18 December 2019.
  19. Blanchard, Rachel (4 February 2009). "Michigan: A Great Place to Do Business". Corp! Magazine. Retrieved 25 September 2018.
  20. Turner, Mike (15 June 2017). "Celebrating growth in Michigan continues with this year's Economic Bright Spots". Corp! Magazine. Retrieved 25 September 2018.
  21. Turner, Mike (21 June 2018). "Corp! highlights area's Economic Bright Spots winners". Corp! Magazine. Retrieved 25 September 2018.
  22. "Michigan's Economic Bright Spots". Corp Magazine. Retrieved 18 December 2019.
  23. "Top Credit Unions" (PDF). MiBiz. 11 November 2013. Retrieved 25 September 2018.
  24. King, W.B. (18 September 2017). "The Best Credit Unions to Work For". Credit Union Journal. Credit Union Journal. Retrieved 25 September 2018.
  25. King, W.B. (21 September 2018). "The Best Credit Unions to Work For". Credit Union Journal. Credit Union Journal. Retrieved 25 September 2018.
  26. "The Healthiest 100 Workplaces in America". Healthiest Employers. Retrieved 25 September 2018.
  27. "2018 Credit Union Rankings". SP Global. Retrieved 18 December 2019.
  28. "Best of the West Services and People Winners". Revue WM. Retrieved 18 December 2019.
  29. "The Best Credit Unions to work for with assets over 1B". CU Journal. Retrieved 18 December 2019.
  30. "Certified Veteran-Friendly Employers". Michigan Veterans Affairs Agency. Retrieved 18 December 2019.
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