Banking

Clark County Credit Union joins $1 billion-asset club

Clark County Credit Union in Las Vegas is among the latest credit unions to hit the $1 billion-asset mark.

Hitting the milestone was a goal the credit union set in 2015, the institution said in a release Thursday.

President and CEO Matt Kershaw originally proposed the growth goal to the CCCU board to push the credit union to be forward-thinking and innovative with its strategic approach.

“Celebrating the credit union’s $1 billion[-asset] milestone is really about honoring the investment and commitment our members have made in our organization – they have put their trust in CCCU,” Kershaw said.

Roughly 380 credit unions now have at least $1 billion of assets.

Clark County CU CFO Patricia Ochal said reaching the milestone during a pandemic had its challenges.

“Like many financial institutions across the country, CCCU saw its member deposits increase. The combined efforts of 47,000 members helped us reach this goal,” Ochal said.

The credit union said it plans to further improve the member experience in coming months by adding credit card rewards, more person-to-person payment options, video banking and more.

Clark County Credit Union is privately insured by American Share Insurance. It earned just under $30 million last year, down from $43 million in 2019, according to ASI.


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