Press Kit
Our Story
Arsenal Credit Union was established by eight individuals who sought a better way to manage their money. They envisioned an institution that combined the financial power of their coworkers and family members, giving themselves economic control over their wages and ultimately, their futures.
Today, we are still driven by this philosophy – Arsenal’s mission is to utilize the power of money to help people improve their social and economic well-being. Unlike banks which are for-profit, we share our net earnings with our members in the form of better rates on deposits and loans, fewer and lower fees, etc. Since people motivate our ambitions, we consistently provide excellent service.
Company Fast Facts
| Founded: | 1948 |
| Organization type: | A not-for-profit financial cooperative |
| Charter: | State |
| Regulatory Agency: | Missouri Division of Credit Unions |
| Insurance: | Federal (provided through the National Credit Union Administration/NCUA) |
| Total Membership: | 31,984 (as of 1/26/2023) |
| Total Assets: | $373.3 million (as of 9/30/2022) |
| Total Deposits: | $333.8 million (as of 9/30/2022) |
| Employees: | 99 |
| Rankings: | 8th-largest credit union in St. Louis (based on deposits and assets) and 11th-largest in Missouri |
| Headquarters: | Arnold, Missouri |
| Branches: | Four in the St. Louis metro area (three in Missouri – north Jefferson County, mid St. Louis County and north St. Louis County; one in Illinois – north St. Clair County), more than 70 credit union shared branch locations locally and more than 5,800 nationwide, a 24/7 online/mobile branch, and a 24/7 automated (phone) teller system |
| Free ATMs: | More than 250 in the St. Louis area and 30,000 nationwide through the CO-OP Network |
| Leadership: | Senior Management:
President/CEO: Linda Allen Board of Directors: 7 directors elected to a 3-year term Supervisory Committee: 3 members, each elected to a 3-year term |
| Who Can Join: | See our Membership Eligibility page |
| Products: | We offer many of the same financial products and services as banks do. |
| Accolades: | People helping people is the epicenter of what we do. As a result, we have received an array of various state-level awards for our internal products and services that help individuals and families, as well as for our external programs that benefit the community. The list includes eight Louise Herring Awards for Philosophy in Action, eight Alphonse Desjardins Awards for our youth and adult financial education efforts, and 17 Dora Maxwell Social Responsibility Awards for our community involvement efforts. Our entire portfolio of accolades – 33 total – were awarded to us by the Missouri Credit Union Association (MCUA), now known as the Heartland Credit Union Association.
Recognition:
|
Media Contact: Vice President of Marketing
Media Notes
- Arsenal is a credit union, not a bank.
- Those who do business with a credit union are called members rather than customers.
- Not for profit and nonprofit are not interchangeable terms; each has a different meaning. Credit unions are not for profit, which is not to be confused with nonprofit charities or similar organizations. Credit unions are not for profit because they operate to serve their members rather than to maximize profits. But unlike nonprofit organizations, credit unions do not rely on donations, and they are financial institutions that must turn what is, in economic terms, a small profit (i.e., “surplus”) to be able to continue to serve their members. A credit union’s revenues (from loans and investments) need to exceed its operating expenses and dividends (interest paid on deposits) in order to maintain capital and solvency. Credit unions use excess earnings to offer members more affordable loans, a higher return on savings, lower fees or new products and services.
- A high-resolution copy of our logo is available upon request.