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Arkansas Federal passes $550 million in assets.

ARKANSAS FEDERAL CREDIT Unions assets passed the half billion-dollar mark during the first quarter of 2007 and ended the year at just under $560 million, a mark that places it among the 20 largest financial institutions chartered in Arkansas.

The National Credit Union Administration has not yet released Dec. 31 call reports for Arkansas' 68 federally chartered credit unions, so this year's list ranks them by Sept. 30 assets. However, AFCU President and CEO Larry Biernacki happily shared his year-end figure, which reflects annual growth of more than 17 percent. And it followed growth of more than 16 percent during 2006.

"We've been very, very fortunate. God's been really good to us," said Biernacki, who in 2005 declared his intention to triple AFCU's assets within 10 years.

"But more than the growth, what we're really happy about is our members are taking advantage of the cooperative.... We really do believe we're improving each member's financial life, and they are bringing their family and friends."

Arkansas Federal has expanded to 11 branch offices, the newest having opened in Bryant in October.

Telcoe Federal Credit Union of Little Rock, a distant second, reported solid asset growth of nearly 5 percent during the first three quarters of 2007. At $187 million, it is the only other Arkansas credit union whose assets exceed $100 million; most are under $10 million.

As a whole, credits unions in the state increased their assets by some $92 million in the first nine months of 2007 to a total of $1.7 billion. Of that, almost $56 million can be attributed to growth at AFCU, and another $8 million to Telcoe. The quality of those assets may, however, be somewhat affected by the same factors that are hurting commercial banks, AFCU's Biernacki said.

"The national mortgage problems are going to have an effect on all financial institutions in Arkansas," he said.

Even though AFCU didn't engage in what Biernacki called "exotic" home loans, some credit union members may find their finances squeezed by adjustable rate mortgages from other lenders and be unable to make their monthly payments on AFCU loans, he said.

The roster of credit union charters in Arkansas shrank by two during 2007. Member Service Federal Credit Union of Little Rock was merged into United Arkansas FCU, also of Little Rock. The two had been almost identical in size, about $11 million in assets each, and the resulting $22 million institution moves to No. 18 on our list of the 40 largest credit unions in Arkansas.

Eaton Hydraulics-Searcy FCU was merged into the manufacturer's parent company's Eaton Family Federal Credit Union of Euclid, Ohio. The credit union office in Searcy is now a branch of the Ohio credit union.

Another out-of-state credit union, Chartway FCU of Virginia Beach, Va., has also set up shop in Arkansas--a two-person branch inside the Fidelity Information Services campus in west Little Rock specifically to serve FIS employees.

The Arkansas Credit Union League plans a statewide "awareness" advertising campaign beginning later this month. Most of the ads will be on television, President Reta Kahley said, but the campaign will also include a Web site, billboards in the summer and possibly some radio spots in the fall.

By Gwen Moritz

gmoritz@abpg.com
Arkansas Federal Credit Union, Jacksonville

1998 $246.2
1999 $253.6
2000 $288.9
2001 $320.9
2002 $336.5
2003 $366.9
2004 $397.4
2005 $410.0
2006 $476.6
2007 $559.7

Sources: National Credit Union Administration, Arkansas Federal Credit
Union

Note: Table made from line graph.

Largest Credit Unions
Ranked by assets as of Sept. 30, 2007

 Net Income/
 Loss as of
 Sept. 30
 Net Income
 Federal Credit Union Assets /Loss
 Address, Phone, Web site Deposits 2006 No.

1 Arkansas Federal $532,498,115 $1,870,832
 Credit Union $414,856,398 $3,861,389
 P.O. Box 9,
 Jacksonville 72078,
 (501) 982-1000,
 www.afcu.org

2 Telcoe Federal $187,287,280 $1,797,637
 Credit Union $145,537,328 $2,072,702
 P.O. Box 34200,
 Little Rock 72120,
 (501) 375-5321,
 www.telcoe.com

3 Arkansas Best $87,560,373 $398,741
 Federal Credit Union $75,441,265 $342,073
 P.O. Box 17020,
 Fort Smith 72917,
 (479) 649-2060,
 www.affcu.org

4 Crossett Paper Mills $65,709,729 $137,306
 Employees Federal $70,167,630 $163,891
 Credit Union
 P.O. Box 929,
 Crossett 71635,
 (870) 304-3200,
 www.cpmefcu.org

5 Fairfield Federal $65,709,729 $137,306
 Credit Union $47,270,537 $163,891
 P.O. Box 5700,
 Pine Bluff 71611,
 (870) 536-6665,
 www.fairfield-
 creditunion.org

6 Mil-Way Federal $62,203,323 $542,702
 Credit Union $52,729,437 $652,688
 2000 Arkansas Blvd.,
 Texarkana 71854,
 (870) 772-0661,
 www.mil-wayfcu.org

7 Northeast Arkansas $61,231,562 $220,850
 Federal Credit Union $53,980,893 $183,730
 P.O. Box 467,
 Blytheville 72316,
 (870) 763-1111,
 www.neafcu.org

8 Pine Bluff Cotton Belt $50,232,019 $207,001
 Federal Credit Union $42,825,202 $308,379
 1703 River Pines Blvd.,
 Pine Bluff 71601,
 (870) 535-6365,
 www.pbcottonbeltfcu.coop

9 Arkansas Superior $47,457,751 $363,029
 Federal Credit Union $41,896,371 $417,672
 P.O. Box 479, Warren 71671,
 (870) 226-3534,
 www.asfcu.coop

10 TruService Community $44,698,088 -($206,925)
 Federal Credit Union $37,907,608 $143,917
 P.O. Box 25636,
 Little Rock 72221,
 (501) 225-3636,
 www.truservice.net

11 Alcoa Community $32,382,318 $80,499
 Federal Credit Union $26,899,870 $268,728
 P.O. Box 1269,
 Benton 72018,
 (501) 315-5626,
 www.alcoa-
 communityfcu.org

12 UARK Federal Credit Union $32,145,671 $263,674
 P.O. Box 1643, $27,808,520 $814,011
 Fayetteville 72702,
 (479) 521-1199,
 www.uarkfcu.com

13 Diamond Lakes $29,274,500 -(212,980)
 Federal Credit Union $23,432,819 $13,297
 P.O. Box 1080,
 Malvern 72104,
 (501) 332-6530,
 www.diamondlakesfcu.org

14 River Valley Community $27,674,686 $62,975
 Federal Credit Union $22,340,182 $116,853
 340 Cash Road S.W.,
 Camden 71701,
 (870) 836-4400,
 www.myrvcu.org

15 Arkansas Employees $26,454,932 $158,426
 Federal Credit Union $23,732,267 $46,808
 306 S. Cross St.,
 Little Rock 72201,
 (501) 374-8346,
 www.arkansasefcu.org

16 Pine Federal $25,005,133 $321,420
 Credit Union $19,527,013 $326,133
 5100 Jefferson Parkway,
 Pine Bluff 71602,
 (870) 247-5100,
 www.pinefcu.com

17 Dillard's Federal $24,561,092 $86,615
 Credit Union $20,482,367 $287,772
 P.O. Box 3335,
 Little Rock 72203,
 (501) 833-1845,
 www.dillardsfcu.org

18 United Arkansas $22,782,622 $128,662
 Federal Credit Union $18,399,388 $50,451
 8405 Interstate 30,
 Little Rock 72209,
 (501) 565-8500,
 www.unitedarkansas.org

19 Baptist Health $19,373,002 $221,965
 Federal Credit Union $16,292,469 $428,598
 9000 Kanis Road,
 Little Rock 72205,
 (501) 202-2373,
 www.baptist-healthtcu.com

20 Hurricane Creek $19,197,777 $145,370
 Federal Credit Union $17,080,492 $205,204
 1114 Ferguson Drive,
 Benton 72015,
 (501) 315-3162,
 www.hurricanecreekfcu.org

21 Subiaco Federal $18,217,726 $224,072
 Credit Union $15,642,430 $233,340
 P.O. Box 84,
 Subiaco 72865,
 (479) 934-4201,
 www.subiacofcu.org

22 Union Pacific of Arkansas $16,447,559 $168,187
 Federal Credit Union $13,156,736 $119,238
 P.O. Box 736, North Little
 Rock 72115, (501) 373-2190,
 www.upfcu.org

23 River Town Federal $12,254,023 $159,519
 Credit Union $10,081,315 $161,197
 P.O. Box 305,
 Fort Smith 72902,
 (479) 784-5600,
 www.rivertownfcu.org

24 Fort Smith Dixie Cup $11,271,941 $25,938
 Federal Credit Union $8,698,075 $106,964
 4411 Midland Blvd.,
 Fort Smith 72904,
 (479) 782-3133,
 www.dixiecupfcu.com

25 Northwest Arkansas $10,514,646 $48,133
 Federal Credit Union $9,319,396 $56,063
 1460 N. Woolsey Ave.,
 Fayetteville 72703,
 (479) 443-4401,
 www.nwafcu.us

26 Pine Bluff Arsenal $9,747,275 $85,037
 Federal Credit Union $6,638,892 $119,470
 Pine Bluff Arsenal,
 Building 16-440,
 Pine Bluff 71602,
 (870) 535-2441

27 Fort Smith Teachers $8,620,624 $96,072
 Federal Credit Union $6,588,963 $148,029
 P.O. Box 3606, Fort
 Smith 72913,
 (479) 783-0611

28 Lion Federal Credit Union $8,302,554 $39,563
 P.O. Box 10580, $6,388,055 $73,421
 El Dorado 71730,
 (870) 864-1375,
 www.lioncreditunion.com

29 V.A. Hospital Seventh $8,069,177 $35,192
 Federal Credit Union $7,122,966 $1,921
 4300 W. St., Little
 Rock 72205, (501) 661-1938

30 Priority Federal $7,520,973 $53,824
 Credit Union $6,733,048 $67,762
 P.O. Box 10969,
 Russellville 72812,
 (479) 890-6203,
 www.priorityfederal.us

31 Electric Cooperatives $7,513,425 $59,211
 Federal Credit Union $6,627,178 $69,806
 P.O. Box Little
 Rock 72219-4208,
 (501) 570-2396,
 www.electriccoopfcu.org

32 White County Federal $7,124,236 $26,495
 Credit Union $6,082,182 $71,905
 508 W. Beebe Capps,
 Searcy 72143,
 (501) 268-3122,
 www.whitecountyfcu.org

33 Robert Patterson $7,006,943 $73,464
 Federal Credit Union $6,057,095 $34,829
 320 Deceipher St.,
 Arkadelphia 71923,
 (870) 246-8005

34 Arkansas Farm Bureau $6,999,706 $62,288
 Federal Credit Union $5,699,480 $68,303
 P.O. Box 31, Little Rock
 72203, (501) 228-1504,
 www.afbfcu.virtualcu.net

35 Hot Springs Federal $6,809,932 $44,233
 Credit Union $5,772,274 $29,129
 P.O. Box 78,
 Hot Springs 71902,
 (501) 623-9112,
 www.hotspringsfcu.com

36 Arkansas Health Center $6,350,992 $50,720
 Federal Credit Union $5,554,682 $39,041
 6701 Hwy. 67, Benton
 72015, (501) 860-0594

37 Little Rock Fire $6,309,238 $118,616
 Department Federal $5,152,555 $51,046
 Credit Union
 8615 Chicot Road,
 Little Rock 72209,
 (501) 568-1001

38 Southern Gas $5,810,876 $22,830
 Federal Credit Union $4,366,037 ($12,174)
 P.O. Box 95043,
 Little Rock 72295,
 (501) 377-4675

39 Combined Health Care $5,674,712 $131,954
 Federal Credit Union $4,631,260 $82,249
 P.O. Box 22237, Hot
 Springs 71903,
 (501) 623-7004,
 www.combinedfcu.com

40 Arkansas Education $5,128,638 $50,944
 Association Federal $4,369,348 $60,225
 Credit Union
 1500 W. Fourth St.,
 Little Rock 72201,
 (501) 375-3792

 Federal Credit Union No. of CEO or President
 Address, Phone, Web site of Members Year Chartered

1 Arkansas Federal 69,431 Walter
 Credit Union L. "Larry"
 P.O. Box 9, Biernacki, Jr.
 Jacksonville 72078, 1956
 (501) 982-1000,
 www.afcu.org

2 Telcoe Federal 22,033 Sarah S.
 Credit Union Mosley
 P.O. Box 34200, 1950
 Little Rock 72120,
 (501) 375-5321,
 www.telcoe.com

3 Arkansas Best 15,163 Norma
 Federal Credit Union Meares
 P.O. Box 17020, 1960
 Fort Smith 72917,
 (479) 649-2060,
 www.affcu.org

4 Crossett Paper Mills 10,511 Ed Gilbert
 Employees Federal 1957
 Credit Union
 P.O. Box 929,
 Crossett 71635,
 (870) 304-3200,
 www.cpmefcu.org

5 Fairfield Federal 7,602 Alan K.
 Credit Union McFalls
 P.O. Box 5700, 1958
 Pine Bluff 71611,
 (870) 536-6665,
 www.fairfield-
 creditunion.org

6 Mil-Way Federal 6,818 Allen
 Credit Union Brown
 2000 Arkansas Blvd., 1956
 Texarkana 71854,
 (870) 772-0661,
 www.mil-wayfcu.org

7 Northeast Arkansas 11,412 Steve
 Federal Credit Union Purtee
 P.O. Box 467, 1959
 Blytheville 72316,
 (870) 763-1111,
 www.neafcu.org

8 Pine Bluff Cotton Belt 5,868 James R.
 Federal Credit Union Laminack
 1703 River Pines Blvd., 1936
 Pine Bluff 71601,
 (870) 535-6365,
 www.pbcottonbeltfcu.coop

9 Arkansas Superior 8,964 Dwayne L.
 Federal Credit Union Ashcraft
 P.O. Box 479, Warren 71671, 1957
 (870) 226-3534,
 www.asfcu.coop

10 TruService Community 6,447 Linda
 Federal Credit Union A. Jeffery
 P.O. Box 25636, 1976
 Little Rock 72221,
 (501) 225-3636,
 www.truservice.net

11 Alcoa Community 5,353 Rebecca L.
 Federal Credit Union Brosius
 P.O. Box 1269, 1957
 Benton 72018,
 (501) 315-5626,
 www.alcoa-
 communityfcu.org

12 UARK Federal Credit Union 9,615 Gina N.
 P.O. Box 1643, Williams
 Fayetteville 72702, 1965
 (479) 521-1199,
 www.uarkfcu.com

13 Diamond Lakes 6,696 Dee G. Edie
 Federal Credit Union 1960
 P.O. Box 1080,
 Malvern 72104,
 (501) 332-6530,
 www.diamondlakesfcu.org

14 River Valley Community 4,413 Tammy M.
 Federal Credit Union McAnulty
 340 Cash Road S.W., 1953
 Camden 71701,
 (870) 836-4400,
 www.myrvcu.org

15 Arkansas Employees 4,709 Joyce
 Federal Credit Union M. Judy
 306 S. Cross St., 1982
 Little Rock 72201,
 (501) 374-8346,
 www.arkansasefcu.org

16 Pine Federal 4,194 Reasel M.
 Credit Union Thurgood
 5100 Jefferson Parkway, 1958
 Pine Bluff 71602,
 (870) 247-5100,
 www.pinefcu.com

17 Dillard's Federal 10,237 Scotty
 Credit Union E. Sparks
 P.O. Box 3335, 1973
 Little Rock 72203,
 (501) 833-1845,
 www.dillardsfcu.org

18 United Arkansas 8,376 Joseph H.
 Federal Credit Union Weinsinger
 8405 Interstate 30, 1982
 Little Rock 72209,
 (501) 565-8500,
 www.unitedarkansas.org

19 Baptist Health 5,923 Bobbie S.
 Federal Credit Union Threlkeld
 9000 Kanis Road, 1959
 Little Rock 72205,
 (501) 202-2373,
 www.baptist-healthtcu.com

20 Hurricane Creek 3,993 Donald
 Federal Credit Union Cypert
 1114 Ferguson Drive, 1957
 Benton 72015,
 (501) 315-3162,
 www.hurricanecreekfcu.org

21 Subiaco Federal 2,273 Kathy E.
 Credit Union Schluterman
 P.O. Box 84, 1948
 Subiaco 72865,
 (479) 934-4201,
 www.subiacofcu.org

22 Union Pacific of Arkansas 2,962 Linda A.
 Federal Credit Union Stanton
 P.O. Box 736, North Little 1971
 Rock 72115, (501) 373-2190,
 www.upfcu.org

23 River Town Federal 4,551 Suzie
 Credit Union Humphries
 P.O. Box 305, 1958
 Fort Smith 72902,
 (479) 784-5600,
 www.rivertownfcu.org

24 Fort Smith Dixie Cup 1,357 Vicki A.
 Federal Credit Union Newton
 4411 Midland Blvd., 1949
 Fort Smith 72904,
 (479) 782-3133,
 www.dixiecupfcu.com

25 Northwest Arkansas 4,785 Janice G.
 Federal Credit Union Hanna
 1460 N. Woolsey Ave., 1935
 Fayetteville 72703,
 (479) 443-4401,
 www.nwafcu.us

26 Pine Bluff Arsenal 1,436 Betty
 Federal Credit Union Dockery
 Pine Bluff Arsenal, 1956
 Building 16-440,
 Pine Bluff 71602,
 (870) 535-2441

27 Fort Smith Teachers 1,811 Eileen
 Federal Credit Union Rodgers
 P.O. Box 3606, Fort 1936
 Smith 72913,
 (479) 783-0611

28 Lion Federal Credit Union 2,679 William T.
 P.O. Box 10580, Hance, Jr.
 El Dorado 71730, 1936
 (870) 864-1375,
 www.lioncreditunion.com

29 V.A. Hospital Seventh 3,194 Karen B.
 Federal Credit Union York
 4300 W. St., Little 1951
 Rock 72205, (501) 661-1938

30 Priority Federal 1,505 Keith
 Credit Union Bowden
 P.O. Box 10969, 1967
 Russellville 72812,
 (479) 890-6203,
 www.priorityfederal.us

31 Electric Cooperatives 2,371 Windy
 Federal Credit Union Campbell
 P.O. Box Little 1979
 Rock 72219-4208,
 (501) 570-2396,
 www.electriccoopfcu.org

32 White County Federal 2,501 Janet J.
 Credit Union Overstreet
 508 W. Beebe Capps, 1958
 Searcy 72143,
 (501) 268-3122,
 www.whitecountyfcu.org

33 Robert Patterson 1,246 Brenda M.
 Federal Credit Union Karber
 320 Deceipher St., 1957
 Arkadelphia 71923,
 (870) 246-8005

34 Arkansas Farm Bureau 770 Rita
 Federal Credit Union Spradlin
 P.O. Box 31, Little Rock 1958
 72203, (501) 228-1504,
 www.afbfcu.virtualcu.net

35 Hot Springs Federal 2,267 Marlin W.
 Credit Union Henderson
 P.O. Box 78, 1948
 Hot Springs 71902,
 (501) 623-9112,
 www.hotspringsfcu.com

36 Arkansas Health Center 1,455 Gerry L.
 Federal Credit Union Cooper
 6701 Hwy. 67, Benton 1953
 72015, (501) 860-0594

37 Little Rock Fire 617 Paul A.
 Department Federal Gunther
 Credit Union 1950
 8615 Chicot Road,
 Little Rock 72209,
 (501) 568-1001

38 Southern Gas 1,116 Mary E.
 Federal Credit Union Gibson
 P.O. Box 95043, 1979
 Little Rock 72295,
 (501) 377-4675

39 Combined Health Care 2,424 N. Richard
 Federal Credit Union Belanger
 P.O. Box 22237, Hot 1967
 Springs 71903,
 (501) 623-7004,
 www.combinedfcu.com

40 Arkansas Education 2,542 Lacretica
 Association Federal A. Harris
 Credit Union 1978
 1500 W. Fourth St.,
 Little Rock 72201,
 (501) 375-3792

Source: National Credit Union Administration call reports
for Sept. 30, 2007, the most recent available.
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Title Annotation:Overview
Author:Moritz, Gwen
Publication:Arkansas Business
Date:Feb 11, 2008
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