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NEWS ARCHIVES |
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Mission Focus Takes ECCU Over $1 Billion Asset Mark BREA, CA—A decision made two decades ago put Evangelical Christian Credit Union (ECCU) on a path that has taken the Brea, California-based credit union over the $1 billion core asset mark. The decision, to enter the uncharted waters of church and ministry lending, was driven by ECCU’s pursuit of its mission—to make ministries more effective. The credit union has since grown to become the nation’s leading banking resource for evangelical Christian ministries. Much of ECCU’s 20 percent annual growth over the past decade traces back to the decision to offer financing specifically designed for ministries. Today, the credit union has the largest member business loan portfolio in the industry, according to data published by Callahan and Associates. With over $2.6 billion in total assets under management, ECCU is the largest provider of banking resources—both financing and cash management solutions—to churches, Christian schools and universities, and other evangelical ministries. Mark G. Holbrook, ECCU’s president/CEO since 1979, speaks of “an exceptional and dedicated team” when talking about this dramatic growth, but cites a shared passion with the ministries being served as the most significant factor. “We are deeply thankful for the opportunity to partner with thousands of ministries across the country,” he says, “particularly those who have few, if any, other banking options available.” The growth prompted by its shift to ministry lending also led ECCU to pursue an aggressive loan participation strategy. Loans sold to other credit unions and serviced by ECCU now exceed $1.6 billion. Exceptional asset quality, evidenced by zero delinquency, has built strong confidence among ECCU’s loan participants. “Without our partnership with so many other credit unions,” Holbrook says, “we could not meet the loan demand of our members.” ECCU’s membership now includes ministries in all 50 states and more than 3,500 missionaries in 110 countries. FOR IMMEDIATE RELEASE Contact: |
