News & Press: Credit Union News

Affinity Plus St. Cloud branches see 162-percent growth in new membership in 2016

Wednesday, September 28, 2016  
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Affinity Plus Federal Credit Union - ST PAUL, Minn. (September 28, 2016) - Affinity Plus’ St. Cloud branches have seen a 162-percent growth in new members in 2016 compared to a similar period in 2015, the credit union announced today.

The dramatic growth in August 2016 compared to August 2015 was the product of continuing efforts to build relationships in the community and on the St. Cloud State University campus,  credit union leaders said.

“We’re confident this latest year-over-year growth is more than just a response to market changes. It demonstrates people are eager to work with financial institutions they know they can trust,” said Kate Austad, St. Cloud branch manager. “We’re seeing more members now because people see value in what Affinity Plus is doing with and for our community.”

The recent departure of TCF Bank from the SCSU campus has given Affinity Plus the opportunity to educate students and others about the credit union difference “but we’ve been a presence on campus for 19 years,” Austad said. “Our message to St. Cloud really is ‘We’re here to stay,’”.

ON CAMPUS AND IN THE COMMUNITY

Over nearly two decades, Affinity Plus has:

  • been a corporate sponsor of SCSU’s widely attended Mainstreet/Sidestreet student-involvement fairs events each fall and spring;
  • sponsored meals for International Student Orientation weeks and participated in corresponding culture nights;
  • participated in Career Services recruitment events;
  • attended Grad Expo and recognized graduating members;
  • steadily sponsored SCSU athletics
  • participated in SCSU Husky Spirit days and decorating contests

“I’m especially pleased with our partnership with SCSU’s Center for International Studies,” Austad noted. “We’ve helped welcome hundreds of students coming from all around the world, including China, Nepal, Burundi, Malaysia, Egypt and many more.”

Many international students, and their U.S. counterparts, are eager for financial education to help them understand the basics of banking, learn how to budget, reduce their student debt and make smart financial choices, she said.

COMMUNITY IMPACT

Affinity Plus opened a community location in the St. Cloud Heritage Market business park in 2003 when membership growth and staffing had outgrown the campus location.

Serving the larger St. Cloud community is “another testament to our dedication to this area and our commitment to best serve our members,” Austad said, noting that the credit union has established itself as “a vibrant local business.”

In June, Affinity Plus participated in the Lemonade Concert and Art Fair for the first time, she said. The event is held on the SCSU campus and has been celebrated annually for 42 years.

“By their nature and by design, credit unions are rooted in their local communities,” said Dave Larson, Affinity Plus President/CEO.  “We are committed to the St. Cloud market and expect to see continued growth in the coming months, as consumers migrate to the not-for-profit business model that sets us apart.”

About Affinity Plus Federal Credit Union

Affinity Plus Federal Credit Union is a not-for-profit financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees and unique, member-centric products and programs. Affinity Plus has 28 branches throughout Minnesota. Based in St. Paul, Minn., Affinity Plus has over $1.8 billion in assets and $3.5 billion in assets under management, and is owned by more than 185,000 members. Additional information is available at www.affinityplus.org or by calling (800) 322-7228.


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

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