Professional Achievement Earns Cornerstone Community Financial's President and CEO Crain's Detroit Business 40 Under 40 Recognition
AUBURN HILLS, Mich., Sept. 30 -- Success in business takes hard work and dedication, but sometimes it has an age requirement. At 33, Heidi Kassab, president and chief executive officer (CEO) of Cornerstone Community Financial (CCF), has been recognized by Crain's Detroit Business as one of its "40 under 40" honorees for 2004 for her professional and personal achievements. She is profiled in the publication's Sept. 27 issue.
According to Crain's Detroit Business, the award identifies men and women in the business community who have built solid business careers before the age of 40. More than 200 people were nominated for this year's award. A panel of Crain's judges based its selections on extensive career and community activity information provided by candidates and Crain's research. Professional achievement was the most important qualification for selection.
Kassab, who was named president and CEO of CCF in April 2003, oversees the operations of the credit union, including its Center Line and Detroit, Mich., and Perrysburg, Ohio branches. She has worked for CCF since 1999, when she joined the credit union as executive vice president.
Kassab has made some remarkable accomplishments in a male-dominated business world. Earlier this year, she directed CCF's name change (from Motor Parts Federal Credit Union) and community charter conversion, which allows the credit union to expand its field of membership up to 600,000 households. Under her leadership, CCF reported $130.2 million in assets for 2003, up from $116 million in 2002. In addition, CCF's net income increased 60 percent, its loan portfolio grew 8 percent and employee turnover has decreased significantly.
Currently, Kassab is focused on growing the credit union by possibly adding branch locations and offering new services for members. She hopes to add 1,280 members and a branch office in Lake Orion, Mich. by the end of the year.
Kassab earned a bachelor of arts degree in accounting and computer science from Oakland University in Rochester, Mich. She is a member of the Credit Union National Association's CFO and COO Councils.
Crain's Detroit Business is metro Detroit's leading business publication directed towards upper-level executives and business owners. First published in 1985 it is the only local weekly business publication providing late- breaking news covering industries such as manufacturing, technology, real estate, health care and financial services.
Headquartered in Auburn Hills, Mich., CCF is a member-owned, not-for-profit organization. It was founded in 1951 as Mo-Par Federal Credit Union by employees from Chrysler Corp.'s Center Line, Mich. parts division. CCF has branches in Auburn Hills, Center Line and Detroit, Mich., and Perrysburg, Ohio. Through a partnership with Credit Union Family Service Centers, CCF provides its members access to 21 additional branch locations in Michigan and more than 900 others nationwide.
The credit union offers its approximately 15,000 members a variety of financial products and services, ranging from share certificates to VISA credit cards and from online banking to loan programs. Current assets are $130.2 million. For more information, visit www.ccfinancial.com.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20040315/DEM003LOGOhttp://www.newscom.com/cgi-bin/prnh/20030414/DEM030
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com