Beehive Federal Credit Union was chartered in 1960, and in 2020 we will celebrate our 60th anniversary. Because our assets, members, reserves, and services offered have grown consistently over several decades, we are now a strong and well-capitalized financial institution. Healthy, balanced and sustainable growth is an absolute necessity for any financial institution in order to succeed in this ultra-competitive landscape. Growth allows us to achieve economies of scale and provides us with resources needed to offer you the financial products and services you desire.
Let me lead you through a brief summary of Beehive’s historical growth. It took 16 years from our inception until 1976 to achieve Beehive’s first $1 million in assets. In another 21 years in 1997, our assets totaled $25 million. The $100 million asset mark was achieved nine years later in 2006, and the $200 million mark took nine more years to accomplish, which was reached in 2015. Growth has accelerated since 2015 and, as of the end of August 2019, we have now attained the significant milestone of $300 million in assets. Although Beehive is a far cry from the size of national banks and other large and aggressive credit unions, our conservative principles and member-focus make Beehive the best place to conduct all your financial business. I hope you will feel the Beehive difference whenever you visit us in person, online, or on the phone. We will continue to strive to earn your trust and make your Beehive membership valuable to you.