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Why Capital CU is IPost CrescentsI Small Biz of Year
KIMBERLY, Wis. (3/18/11)--Capital CU, based in Kimberly, Wis., has been named The Post-Crescent's Small Business of the Year, according to the newspaper (March 16). Alan Zierler, CEO, was lauded for his voluntarism and the $393.1 million asset credit union's many charitable projects, including Rebuilding Together-Fox Valley, Haitian relief, food pantries, blood drives, financial literacy tours and the first Salvation Army Red Kettle match day in December. The 120 staffers who volunteered in programs logged nearly 1,300 hours outside the office, with top performers thanked at an annual company-paid gala dinner. Other reasons it was chosen:
* It boosted its outward physical presence in the community with a purchase of the $1.5 million former Landmark Building for its administrative offices at one of the most prominent intersections in Kimberly. * It increased assets 10% this year to $393 million, and added another $29 million in deposits last year, indicating members believe their money is safe. The past four years have seen 45% growth. It ranked in the top 10% of credit unions nationwide for safety and soundness in a bank rating service's ratings, gaining a "superior" five stars. * It is the third largest credit union in Fox Cities. Zierler noted the No. 1 goal is not to be No. 1 in assets but to remain profitable so it can grow membership and outstanding loans. Last year, Capital lent more than $90 million in new money, and it doubled its business lending portfolio in the past two years. * Its sound lending practices have meant much fewer foreclosures than the overall industry. It had 15 foreclosures out of more than 1,200 home loans, and its delinquency rate is one half of 1%, Zierler told the publication.


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