Headquartered in Bridgewater, New Jersey, Financial Resources Federal Credit Union — formerly the Ethicon Employees Federal Credit Union and the Raritan Federal Credit Union — is a federally chartered credit union with a history dating back to 1933. The institution has total assets of $400 million and almost 25,000 members. Despite a very competitive market, it is the institution’s stated goal to be its members’ primary financial institution and their first choice as a lender.Download Pdf
"Credit unions have an uphill battle in that endeavor. The average credit union in the U.S. is only a fraction of the size of the average bank… about $194 million in assets compared to about $2 billion in assets."
From employees to board members, volunteers, financial coaches and innovators, this year’s winners are shaping all aspects of the credit union industry.
Incumbent lenders and traditional financial institutions are NOT on the verge of mass extinction. For financial institutions to succeed in today’s consumer lending marketplace, the answer is mass adaptation.