Lafayette Federal was recognized as Greater Washington's fastest growing credit union. Ranking as the 8th fastest growing company by the Washington Business Journal, Lafayette Federal was one of only 50 Washington area business to make the list out of over 2,300 companies surveyed. In 2021 alone, the credit union experienced a phenomenal 53% increase in member growth and an outstanding 9.65% return on average assets (ROAA).
The Washington Business Journal analyzed financial returns of companies across the DMV, tracking revenue growth over the last three years. Criteria for the rankings included sustained revenue and employee growth since 2019.
"To be acknowledged by the Washington Business Journal as Greater Washington's #8 fastest growing company is a great honor for our organization," says Gladys Magsino, Lafayette Federal's Senior Vice President of Administration. "Having achieved yet another unprecedented year of growth further solidified Lafayette Federal as a leader within the financial services industry across the country. We are extremely proud for achieving this level of success and are grateful to our employees who have shown remarkable resilience, our volunteers for their support and commitment to our mission and to our members who have stood by our side and supported us for over 85 years."