Arkansas Federal Surpasses $2B in Assets

Arkansas Federal Surpasses $2B in Assets

Continued growth in branch network, mortgage, consumer and commercial lending and deposits lead to sustained growth

(LITTLE ROCK, Ark. – Oct. 11, 2022) — Arkansas Federal Credit Union is pleased to announce that it has surpassed $2 billion in assets. This has been a result of record net income each of the previous six years with plans to end 2022 with another record year.

Arkansas Federal currently operates 20 branches throughout central and northwest Arkansas. In addition to the physical branch locations, the credit union continues to invest in the digital banking channels that allow members throughout the state to easily manage their finances anywhere, anytime.

“We are continuing to invest heavily in our branch footprint and our digital banking network so that we can continue to make a difference for more Arkansans,” said Rodney Showmar, Arkansas Federal president and chief executive officer. “As we continue to grow our asset size, we can invest more in digital and in person channels. It also allows us to continue to hire more Arkansans and invest more in the communities we serve.”

“The continued growth in our balance sheet provides us with the size and scale to continue to improve our products and services with a focus on maintaining extremely competitive loan and deposit rates,” said Eric Mangham, senior vice president and chief financial officer for the credit union. “In addition to accelerated growth rates, Arkansas Federal continues to focus on running a safe and sound organization as represented by our 65+ years of servicing our members. We are continuing to keep our eye on growth while maintaining our high service standards of excellence our members rely on to keep their families and small businesses financially ready for the future.”

Arkansas Federal surpassed $2 billion in assets by continuing to grow deposits, consumer loans and mortgages faster over the previous few years. The organization is also focused on serving more small and mid-sized business through its commercial and SBA lending and treasury management solutions.

ABOUT ARKANSAS FEDERAL CREDIT UNION

Arkansas Federal Credit Union is the largest credit union and one of the largest financial institutions in Arkansas with more than $2 billion in total assets and more than 400 employees. Arkansas Federal has 20 branches throughout Arkansas, which serve more than 138,000 members. www.afcu.org. #OpenToAllArkansans

PRESS CONTACT

Contact: Valerie Erkman                                  

Phone: 501-765-6555                             

Email: verkman@afcu.org