When Andy Harris became president and CEO of Coosa Valley Credit Union (CVCU) three years ago, the organization had about $160 million in assets.
Today, that number is $345 million.
“If you want to go out and start growing, it costs money,” Harris said at last week’s Northwest Power Connectors luncheon at the Cartersville-Bartow County Chamber of Commerce. “So if your expenses are already elevated, it’s going to be hard to grow, and be able to [stay] financially sound without having those expenses under control.”
The road to CVCU more than doubling its assets, Harris said, began with the organization reducing its operational expenses. Over the course of three years, he managed to lower the credit union’s operational costs more than 10 percent.