Growth Report 2019

ASECU Begins 60th Year with More Assets and Loans

YOUNGSTOWN, Ohio – 2019 marks the 60th year of the Associated School Employees Credit Union helping people in the Mahoning Valley reach their financial goals.

In 2018, assets grew 2% to $133 million and loans grew by 13%. The credit union has 13,911 members.

Last year, ASECU added 10 auto dealers to its Dealer Direct loan program. “This partnership affords consumers the ability to shop for a vehicle and have it financed at a credit union in one simple transaction,” says CEO Michael Kurish.

The credit union also began working with Advantage Video Production to create videos for posting on its YouTube channel, Facebook, Instagram and Twitter pages. And it started a financial literacy blog on its website called “Making Cents,” which serves as a vehicle to share financial information.

As more consumers prefer to conduct routine transactions digitally, and more sophisticated engagements in person, branching strategies are evolving and adapting to member needs, Kurish says. As a result, ASECU is offering more products and services online and on its mobile app.

“Because ASECU has been in front of the digital trends, we have increased credit union membership by more than 3% and deepened relationships with our members,” he says.

Still, key challenges remain. These include “increasing loan and membership growth, staying ahead of advancing technology, and keeping abreast of the changing regulatory environment,” Kurish says.

The 32 employees of ASECU volunteer with Junior Achievement of Mahoning Valley by teaching in classrooms, mentoring students at entrepreneurship events and sponsoring financial educational seminars.

Employees also donated more than $10,000 to school and community events and charitable organizations, and more than $20,000 in sponsoring athletics, the arts and educational programs.

Published by The Business Journal, Youngstown, Ohio.