By Michael Kurish
ASECU President & CEO

YOUNGSTOWN, Ohio – It was a transformative year for Associated School Employees Credit Union in 2024. With a focus on the future, we set new milestones and made significant strides toward enhancing the financial well-being of our members.

One of the standout accomplishments of 2024 was our largest loan production ever. We wrote an impressive 1,682 loans, totaling $56.5 million. This record-breaking figure demonstrates the trust our members place in us to help them achieve their financial goals.

Additionally, our deposits saw an increase of $7.5 million compared to the start of the year. This growth enabled us to return over $2 million in dividends to our members, marking the largest dividend distribution in our 65-year history.

In 2024, ASECU also reached a new high in assets, ending the year at $192,347,155 – a 5% increase from the previous year. This growth reflects the continued strength and stability.

ASECU’s net income saw a remarkable 90% increase from the previous year, allowing us to add $1.25 million to our reserves. This increase raised our net worth ratio to over 10%, ensuring that we remain financially strong and able to support our members with secure and reliable services.

2024 also saw ASECU invest in cutting-edge technology to enhance the convenience and security of our members. We replaced our entire fleet of ATMs with the most advanced units available on the market. These new machines come with a host of improved features. Security remains a top priority, and these ATMs are equipped with state-of-the-art features to ensure that transactions are conducted safely and securely.

ASECU marked a special milestone in 2024 as we celebrated our 65th anniversary. It was a year of celebration and appreciation for our members, and we were excited to offer special loan and savings programs, as well as several promotions with giveaways. One of the highlights was an event where local boxing legend “Boom Boom” Mancini graciously joined us to speak and take pictures with our members. His presence made this special occasion even more memorable for all who attended.

As we turn our focus to 2025, we are excited to continue serving the Valley with the best financial products and services available.