Clarion Federal Credit Union recently changed its name to Top Tier Federal Credit Union.
“As the credit union continues to grow and expand across 13 counties in northwestern Pennsylvania, the decision was made to update the credit union’s name to align with strategic goals long-term,” the Clarion, Pennsylvania-based financial cooperative announced on social media July 25.
The $162 million Top Tier posted an ROAA of 2.23% at the end of the second quarter, compared to an ROAA of 1.72% at the end of the second quarter of last year, according to financial performance reports of the NCUA.
The credit union posted double-digit loan growth of 18.83% and 17.69% at the end of the first and second quarters, respectively. The average loan growth of its peers in the first quarter was 6.86%.
Additionally, since December 2018, Top Tier has posted double-digit loan gains and achieved loan growth of 20.81% at the end of last year, compared to an average of 6.24% for peers, according to NCUA financial performance reports.
Top Tier membership gains ranged from 5.45% in 2017 to 9.17% in 2021. At the end of the first and second quarters of this year, the credit union recorded membership growth of 7.34% and 9.28%, respectively, according to the financial performance of the NCUA. reports.
Led by Chairman and CEO Mark A. Lauer, Top Tier’s 38 employees operate three branches and serve 13,237 members.