Best Credit Unions to Work For with less than $200M of assets in 2024

August 28, 2024 6:00 AM

The leaders at the helm of the nine credit unions that make up this asset class have been with their organizations for an average of 15.7 years, which is the highest percentage of all the categories measured in this year's Best Credit Unions to Work For ranking.

Other notable statistics include 100% of institutions keeping overtime at a minimal to nonexistent level for a healthier work-life balance for employees, matching team members' contributions to retirement plans and employing ongoing diversity training.

For additional Best Credit Unions to Work For coverage:

Astera team members get together at the credit union's annual holiday party.

Astera Credit Union

9. Astera Credit Union

Lansing, Michigan
Assets: $200 million
CEO: Martin Carter
No. of employees: 69

Interesting Fact: Within the last year, Astera launched its payday lending consolidation product known as a "Financial Freedom Loan" to assist with making on-time payments and provide members with opportunities for learning about financial literacy topics.

Unusual Perk: Employees get eight hours a year of paid time off if they choose to volunteer at charities.

LSCU's mascot, Penny the Pug, presents a donation to the Greenville Independent School District.

Lone Star Credit Union

8. Lone Star Credit Union

Dallas, Texas
Assets: $176 million
President and CEO: Marcy Phillips
No. of employees: 39

Interesting Fact: This past year, the credit union introduced construction-to-permanent homebuilding loans with the help of Truhome Mortgage Solutions and underwrote its first loan within the first week of the program going live.

Unusual Perk: Hybrid work environments have become a popular topic of debate between employees and executives. To ease the discussion, Lone Star allows back office staff members to choose where they'd like to work from each day and employs a relaxed office attire standard.

Employees during Buckeye State's Christmas party.

Buckeye State Credit Union

7. Buckeye State Credit Union

Akron, Ohio
Assets: $142 million
CEO: Michael Abernathy
No. of employees: 71

Interesting Fact: To better meet the needs of its subprime members, Buckeye State plans to adopt an artificial intelligence-powered underwriting product offered by Scienaptic AI to tailor loan products to borrowers.

Unusual Perk: Employees are periodically recognized at Cheer4Peers events hosted by management, where staff members can highlight the accomplishments of their coworkers.

6. Carolina Foothills Federal Credit Union

Spartanburg, South Carolina
Assets: $201 million
President and CEO: Scott Weaver
No. of employees: 68

Interesting Fact: Carolina Foothills has pledged to fund $10 million in loans to minority-owned small businesses as part of a local revitalization campaign. The credit union has funded $1.5 million since the program's inception.

Unusual Perk: Carolina Foothills offers no-cost to low-cost insurance premiums for employees.

5. North Bay Credit Union

Santa Rosa, California
Assets: $119 million
CEO: Chris Call
No. of employees: 30

Interesting Fact: In addition to expanding its sponsor bank program, whereby North Bay offers banking-as-a-service arrangements to financial technology firms, the credit union is expanding its newly launched cannabis lending program. Since the program began last year, North Bay has underwritten more than $14 million in loans to cannabis operators.

Unusual Perk: The organization hosts potluck celebrations to commemorate the holiday season.

4. Heritage South Credit Union

Sylacauga, Alabama
Assets: $187 million
CEO: Jamie Payton
No. of employees: 63

Interesting Fact: In the last few years, Heritage South has implemented more electronic access to products and services to accommodate member needs.

Unusual Perk: Employees can earn HSCU bucks to spend on branded items at the company store.

3. Rock Valley Credit Union

Loves Park, Illinois
Assets: $162 Million
President and CEO: Darlyne Keller
No. of employees: 44

Interesting Fact: Over the next two years, Rock Valley is working to certify all of its member service representatives as financial counselors as an added benefit for members.

Unusual Perk: Staff members get free milkshakes on Friday.

2. Railway Credit Union

Mandan, North Dakota
Assets: $181 million
President and CEO: Paul Brucker
No. of employees: 25

Interesting Fact: In the last year, the credit union migrated its servers from physical to cloud-based in an effort to beef up its cybersecurity standards.

Unusual Perk: Railway hosts a "Shoe Day" where the credit union buys each employee a new pair of shoes.

1. Southwest Financial FCU

Farmers Branch, Texas
Assets: $82 million
President and CEO: Melanie Kennedy
No. of employees: 29

Interesting Fact: Since the credit union is a virtual-only institution, all staff work remotely.

Unusual Perk: In addition to offering traditional and Roth 401K investment options, Southwest Financial added an updated 401K program. Staff members and their families have access to financial advisers.