Alaska USA Federal Credit Union: diversification, experience key to credit union's success.

• Author: Orr, Vanessa
• Position: Top 49ers Spotlight: Superheroes of Success

Even before Alaska became a state, Alaska USA Federal Credit Union was helping those living on the Last Frontier with their financial needs. Chartered in 1948 at the Alaska Air Depot in Anchorage to meet the credit needs of Department of Defense personnel who had been recently transferred to the state, the credit union has now grown to serve all of Alaska, as well as Washington state and San Bernardino County, Calif.

Since its inception, Alaska USA Federal Credit Union and its subsidiaries have grown to include more than 1,300 full-time Alaska employees and close to 1,600 systemwide employees. Consolidated gross revenues in 2010 were $302 million, of which $265 million came from the credit union.

SOMETHING FOR EVERYONE

"Alaska USA strives to provide its members with a comprehensive package of financial services that provide real value and convenience on a consistent basis year-over-year," said William B. Eckhardt, president, Alaska USA, of the company's growth.

Alaska USA offers financial products and services, including checking and savings, consumer loans, credit cards, mortgage and real estate loans, business depositary services and commercial loans, business and personal insurance, trust services and real estate loans. The company also provides real estate title and escrow services.

As the first financial institution in Alaska to launch a call center, Alaska USA paved the way for credit unions nationwide to take this innovative approach. Originally located in Denver, Colo., to effectively serve members who transferred out of Alaska, the Member Service Center is today located in Anchorage where it provides toll-free telephone processing of members' information, service and transaction requests.

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GOOD CHOICE

There are numerous advantages to becoming a member of Alaska USA. "As a not-for-profit, member-owned financial services cooperative, credit union earnings are returned to member-owners and not to shareholders," explained Eckhardt. "This allows credit unions to provide many free and low-cost services, higher dividends on savings and low loan rates." Anyone who lives or works in Alaska can become a member of the credit union.

Most recently, Alaska USA has expanded its services to provide members with mobile banking and online wire services, including Money in Minutes, VISA platinum credit card e-statements, e-notices, online consumer loan applications, online loan payments, scan deposits at ATMs, ATM preferences...