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Article: Citizens Equity Federal plays tough in Peoria. (Citizens Equity Federal Credit Union, Illinois)
- Article from:
- American Banker
- Article date:
- April 8, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PEORIA, Ill. -- Citizens Equity Federal Credit Union is swallowing Peoria.
Nine years ago, the credit union, based in this gritty industrial town where bright yellow Caterpillar bulldozers and tractors are manufactured, was fighting to survive a rust-belt recession.
Then, it had $405 million in assets and a stream of customers dropping off their car and house keys because they couldn't make payments.
Citizens weathered its problems and today it's not only Peoria's largest financial institution, with $1.2 billion in assets and 180,000 customers, but the nation's 11th-largest credit union.
"They're tough," says Jerry Conaghan, president ...