News & Press: Credit Union News

Firefly Credit Union’s Annual Meeting Honors Legacy, Celebrates Growth, Progress and Service; Elects

Thursday, June 16, 2016  
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Firefly Credit Union - BURNSVILLE, Minn. (June 16, 2016) - Firefly Credit Union held its Annual Meeting May 24, and had plenty of reasons to cheer. In 2015, the Credit Union celebrated its 90th anniversary of service to the community, added over 7,000 new members, and reached a major asset milestone, adding $58 million in assets to cross the $1 billion mark. The year was also marked by a comprehensive rebranding effort – Firefly Credit Union is the new name and brand adopted by what was once US Federal Credit Union.


 “2015 was a year of remarkable growth and accomplishments for our Credit Union,” said Bill Raker, Firefly’s President/CEO. “Over the past 90 years, Firefly has been constantly evolving to assure our ability to meet members’ changing needs in a fast-paced, technology-driven world. With significant growth in assets and membership, it’s clear our member-owners believe we are going in the right direction and we appreciate the opportunity to be of service.”


 Firefly’s Board of Directors reelected a credit union veteran as its Chairman: Sarah Lietz, Director of Projects and Marketing for MEMBERS Development Company (MDC), has been a credit union professional for 13 years. Lietz joined the industry in 2003 as a Corporate Project Manager for CUNA Mutual Group before moving to MDC, a CUSO that serves as the million-dollar R&D budget for 40+ of the nation’s top-tier credit unions and industry partners. Prior to credit unions, Lietz’ s experience included working in the telecom industry and for KPMG Peat Marwick. She received an MBA from the University of Wisconsin and a BA from Illinois State University.


 “I love serving the Firefly CU community as a volunteer,” Lietz said. “It gives me an opportunity to share what I learn through my work with MDC, and my exposure to a large credit union’s board room in turn helps me tremendously with the credit unions I work with every day at MDC.”


 “Firefly has an outstanding Board of Directors, and it’s great to have someone like Sarah at the helm,” Raker said. “Her professional credit union work and leadership skills add to the Board’s depth.”  


ABOUT FIREFLY CREDIT UNION

Firefly is Minnesota’s first credit union, founded in 1925. With over 73,000 members and greater than $1 billion in assets, the credit union serves the seven county Greater Twin Cities Community.  Firefly has received numerous national and local accolades for lending, marketing, and community involvement.  Currently with eight branch locations, Firefly will open three additional offices over the next nine months.


ABOUT MEMBERS DEVELOPMENT COMPANY

MEMBERS Development Company (www.membersdevelopment.com) is the million-dollar R&D budget for more than 40 progressive credit unions and partners. We look for the ideas our owners have missed while doing their jobs all day. We celebrate new discoveries. We ask the hard questions: “Why have you always done things THAT way? What does the bigger picture say?” While credit unions are busy running the business and putting out fires, MDC is watching the horizon. Our projects are aimed to serve up the must-haves and the must-knows for credit unions. Put simply: MDC believes in research driven BY our owners FOR our owners, and the power of partnership.


Firefly Credit Union and MEMBERS Development Company
“Firefly Credit Union’s Annual Meeting Honors Legacy, Celebrates Growth, Progress and Service; Elects Credit Union Industry Executive as Board Chair”


Minnesota Credit Union Network
555 Wabasha Street N, Suite 200
St. Paul, MN 55102

(651) 288-5170
(800) 477-1034