PHOENIX–(BUSINESS WIRE)–Desert Financial Credit Union saw record member growth of 10.6% in 2021, surpassing other Arizona credit unions, which saw median year-over-year growth of just 1.9% on the other in 2021, according to the National Credit Union Administration.
Arizona’s largest credit union added 37,022 members while giving back more than $3.8 million to the community in 2021. Desert Financial CEO Jeff Meshey, who recently celebrated his fifth anniversary as CEO, attributes the company’s recent growth to a renewed interest in giving back.
“As our membership grew in 2021, we also expanded our giving to the community,” says Meshey. “We have learned that the more we focus on giving back to our members, our associates and the community, the more growth we experience as a company. »
Since Meshey assumed the role of CEO in 2017, Desert Financial has doubled its giving to the community, from $2 million in 2017 to nearly $4 million in 2021. Prior to 2017, membership growth stagnated at around 1% per year. Since then, membership growth has accelerated to more than 10% per year.
Over the past five years, Desert Financial Credit Union:
Doubled its assets from $4 billion to over $8 billion
Donated over $14 million to the community
Provided over $54 million in Member Discount Bonuses to Members
Expanding services in northern Arizona, including a newly opened branch in the Prescott Valley and additional branch openings in Flagstaff and Prescott planned for 2022
Increased compensation and benefits for team members
Launching an online, tuition-free college education program for employees through Arizona State University
“Strong communities create more opportunities for everyone,” says Meshey. “This philosophy is embedded within Desert Financial and our employees, who are passionate about the communities in which they work and live. This passion is unmistakable in the more than 12,000 hours they have volunteered in 2021.”
In addition to breaking the company record for volunteer hours, Desert Financial employees participated in more than 8,300 random acts of kindness sponsored by the credit union.
While Desert Financial’s management team cites many reasons for the credit union’s accomplishments over the past few years, adopting an annual event for all employees has been a major factor.
The organization-wide conference is held on the second Monday in October each year, when credit union branches are closed for the federal holiday, providing an opportunity for all Desert Financial employees to come together for a day of celebration of the organization’s successes of the past year. , sharing the company’s vision for the future and seeking employee input on how best to move forward as an organization.
At the first all-employee meeting in 2018, Desert Financial’s leadership team announced their renewed focus on growth and giving. Employees across the organization have embraced the vision, donating 37,000 hours of their time and participating in 23,000 random acts of kindness over the past five years.
Similarly, employee satisfaction has increased by 9% since the inaugural event for all employees.
About Desert Financial Credit Union
Celebrating over 80 years in Arizona, Desert Financial is the state’s most trusted local credit union with over $8 billion in assets, over 380,000 members and 47 branches. Membership eligibility is open in most of Arizona with contactless solutions through eBranch, making it easy to click, call, or enter. As a non-profit cooperative, Desert Financial is proud to share success. In 2021, members received $15 million in dividends through the Member Giveback Bonus, and Desert Financial gave over $3.8 million in donations, scholarships, and random acts of kindness to our members, community, and our team. Learn more about www.desertfinancial.com.