Powered By Our People
We're a not-for-profit financial cooperative, looking out for our members' financial well-being and futures. We embrace our "not-normal-ness" and strive to offer the best products and services for our members, without the price tag you'd find at a big bank. Being member-owned also means we pass all the savings along to you, not stockholders, in the form of competitive rates, higher returns, and lower fees. At Electro, you're not just a number — you're family!
Join the Electro Family. We'd love to have you!
We welcome eligible individuals without regard to race, religion, sex, color, age, national origin, sexual orientation, gender identity, physical or mental disabilities, or any other status protected by law. Membership is open to individuals who live or work or are related to anyone who lives or works in St. Louis City and County, St. Charles, Franklin, and Jefferson counties in Missouri, and Jersey, Madison, St. Clair, and Monroe counties in Illinois.
It all starts with opening a Basic Savings account with $1.
State of the Credit Union
A Message from Jim Struble, Our President and CEO
It’s fitting that our 80th anniversary – our oak anniversary – landed in 2021. Electro, and the community as a whole, faced many challenging circumstances and uncertainties brought on, in part, by the pandemic. But oak trees are known for their strength and ability to withstand harsh storms; in fact, strong storms are what encourage trees to take deeper roots. Facing these challenges with our members and communities has only strengthened these bonds.
For the past 80 years, we’ve been “Establishing and Growing Strong Community Roots” – our Annual Report theme for 2021 – and that’s why we’ve been able to offer stability and security to our employees, members, and community. In 2021, we grew and strengthened our community roots in a few ways: We exceeded $250 million in assets, surpassed 20,000 members, and opened a branch in St. Peters. I’m tremendously proud of all these accomplishments and pleased that they are all directly tied to the incredible culture we’ve fostered.
First and foremost, Electro is an employer. We believe that when we take care of our employees, they’ll take care of our members. In fact, Electro was named Top 5 in St. Louis for Customer Service by Small Business Monthly, which means this mantra works. Our St. Peters branch is a physical manifestation of Electro’s employees-first approach. When designing the branch, we didn’t start with the lobby. We started with the employee break room and created a space they would enjoy using. Having spaces like that for our team is an essential component of our thriving credit union.
Handing the keys of our culture over to our employees also led to impactful community action. Our commitment to diversity, equity and inclusion (DEI) fueled a series of events in celebration of LGBTQIA+ Pride Month, including our participation in PrideFest and sharing of our travels to Jefferson City to testify for the instillment of equal employment protections. Electro was also one of the first financial institutions to formally recognize Juneteenth by closing our branches, a decision that our employees initiated. In 2021, the Credit Union National Association recognized our community and DEI efforts nationally with awards.
Throughout this year and the coming years, Electro aims to further strengthen our commitment to our culture and DEI efforts through an employee-led program named the Power of Us initiative. The Power of Us encourages employees to examine the inner workings of Electro and identify ways our processes and actions could better align with our culture. I’m excited to hear our employees’ feedback, and I deeply appreciate our Board’s commitment to positive change.
We have a lot of exciting activities on the horizon for 2022 and beyond. I can’t say it enough: I’m so proud of our dedicated staff and their commitment to strengthening our community through financial stability. When one person’s finances improve, it improves the lives of that family and our community. Thank you for weathering these storms with us. We’re all stronger for it.
President and CEO