Executive Summary
Executive Summary
2023
Buckeye State Credit Union is a financial services provider with branches currently located in Akron, Shaker Heights, Canton, Alliance, Hartville, and Mansfield, Ohio. Buckeye State was founded in 1933 as Akron Postal Employees Credit Union and eventually evolved into the credit union it is today which serves a field of membership that includes: Lake, Cuyahoga, Summit, Stark, Wayne, Ashland, Medina, and Richland counties. For additional information please see our video at https://youtu.be/LTAevKf1CEU
Executive Leadership:
President | Chief Executive Officer: Michael Abernathy
- Started with Buckeye State in February 2016
- President and CEO since July 2018
- Previous role was SVP, Lending & Sales
SVP, Chief Operating Officer: Deana Allen
- Started with Buckeye State in November 2016
- SVP, Chief Operating Officer since January 2019
- Previous roles were SVP, Lending & Sales and AVP, Operations
SVP, Chief Financial Officer: Brad Riley
- Started with Buckeye State in March 2017
- VP, Chief Financial Officer since January 2019
- Previous roles were VP, Finance and Operations with Buckeye State and Medina County Federal Credit Union prior to that.
SVP, Chief Strategy Officer: Dan Perry
- Started with Buckeye State in May 2016
- VP, Chief Retail Officer since November 2019
- Previous roles were VP, Sales and AVP, Retail Branches
Financial Overview:
|
Year |
Net Income |
Asset Size |
Net Worth % |
Return on Average Asset |
|
2019 |
$1,065,989.67 |
$75,193,396.82 |
11.07% |
1.40% |
|
2020 |
$1,348,705.33 |
$91,903,208.12 |
10.56% |
1.57% |
|
2021 |
$1,101,703.21 |
$103,090,578.14 |
10.33% |
1.09% |
|
2022 |
$1,310,073.07 |
$138,744,645.96 |
10.99% |
1.10% |
|
2023 |
$1,160,994.41 |
$142,146,048.97 |
10.97% |
0.85% |
General Hours of Operation: (some branches may vary)
Monday: 9:00am – 5:00pm
Tuesday: 9:00am – 5:00pm
Wednesday: 9:00am – 5:00pm
Thursday: 9:00am – 5:00pm
Friday: 9:00am – 6:00pm
Saturday: 9:00am – 12:00pm
Sunday: Closed
Milestones:
- Recognized as a Community Development Financial Institution (CDFI) by the US Treasury in 2017
- The credit union has received over $7.3 million in grant funds since 2018.
- Recognized as a “Top Workplace” in Northeast Ohio for five consecutive years (2019-2023) by The Cleveland Plain Dealer
- Recognized as one of America’s “Best Credit Unions” by American Banker Magazine in 2022 and 2023.
- Awarded the 2020 Family Friendly Workplace Award by the United Way of Greater Stark County
- Awarded the Ohio Louis Herring “Philosophy in Action” Award (1st place) in 2022 and was awarded the National Louis Herring “Philosophy in Action” Award (2nd place) in 2022.
- Over $100,000 of charitable contributions since 2019.
Regulatory body and Deposit Insurance:
Buckeye State is regulated by the Ohio Division of Financial Institutions (ODFI), which is a division of the Ohio Department of Commerce. Buckeye State’s deposits are insured by American Share Insurance (ASI). American Share Insurance was founded in 1974 and is owned by its member credit unions. ASI provides deposit protection up to $250,000 per account, not per individual, with no limit to the number of accounts held by the member. ASI insures the deposits of over one million credit union members across the United States. Buckeye also added Excess Share Insurance (ESI) in 2023 which extends deposit coverage beyond ASI’s normal coverage out to $5 Million per account.