Part Of The Community Since 1948

If you like to support local businesses and want to be a part of a dependable and stable structure, break up with your bank and credit card issuer and hook up with Arsenal Credit Union. We're a viable and more wholesome financial alternative.

We're proud to call St. Louis our home and proud of our long history of helping people.

Building A Better World By Putting People First

Unlike a bank, we are a not-for-profit business that is owned by everyone who has money on deposit with us (we call them “members”); as a result, we share our net earnings with our members in the form of better rates on deposits and loans, fewer and lower fees, new products, enhanced services, improved access and stellar service.

At Arsenal, we always put people before profit. We're focused on making our members and employees gruntled by taking excellent care of them.

Because of our cooperative structure, the 26,000 people who do business with us have a sense of belonging and a feeling that they matter to one another and to the group.

Ultimately, it's your choice where you do your banking. But we'd like to help you make that choice – and we think the information below is worth considering.

Bank Name
Headquarters
Part of recent government bailout1
(recipient of TARP funds)
Cost to taxpayers2
Bank of America
North Carolina
Yes
$45 billion
Citigroup
New York
Yes
$45 billion
JPMorgan Chase
New York
Yes
$25 billion
Wells Fargo
California
Yes
$25 billion
PNC Bank
Pennsylvania
Yes
$8 billion
U.S. Bank
Minnesota
Yes
$7 billion
Regions Bank
Alabama
Yes
$4 billion
Capital One
Virginia
Yes
$4 billion
Fifth Third Bank
Ohio
Yes
$3 billion
American Express
New York
Yes
$3 billion
Discover Financial Services
Illinois
Yes
$1 billion
First Bank
Missouri
Yes
$295 million
Reliance Bank
Missouri
Yes
$40 million
Pulaski Bank
Missouri
Yes
$33 million
Centrue Bank
Missouri
Yes
$33 million
Bank Star
Missouri
Yes
$9 million
Fortune Bank
Missouri
Yes
$3 million
BMO Harris
(formerly M&I Bank;
located in Wisconsin)
Montreal, Canada
No

Since the financial crisis began in 2008, banks have paid out $100 billion in legal settlements, with more than 50 percent of that amount coming in the last year, according to Financial Times research (March 28, 2014).

And here's some more food for thought: Would you rather do business with a financial institution that shares its profits with executives and stockholders (like banks do) or with its customers/members (as credit unions do)?

Here’s a quick look at what some national and local bank CEOs received in total compensation in fiscal year 2016, as revealed in an Associated Press article on May 23, 2017, and a St. Louis Post-Dispatch article on May 14, 2017:

  • John G. Stumpf, Wells Fargo: $19.3 million
  • Jamie Dimon, JP Morgan Chase: $18.2 million
  • Richard D. Fairbank, Capital One Financial: $18 million
  • Michael L. Corbat, Citigroup: $14.6 million
  • Brian T. Moynihan, Bank of America: $13.8 million
  • William S. Demchak, PNC Financial Services Group: $12.3 million
  • Richard K. Davis, U.S. Bancorp: $11.4 million
  • William H. Rogers, Jr., Suntrust Banks: $7.9 million
  • O.B. Grayson Hall, Jr., Regions Financial: $7.0 million
  • David Kemper, Commerce Bancshares Inc.: $4.1 million
  • Peter F. Benoist, Enterprise Financial Services Corp.: $1.1 million

According to a study by analysts at Bernstein, as reported in The Financial Times and reprinted in the St. Louis Business Journal (July 4, 2017), U.S. bank chief executives have been paid an average of three times as much as peers around the world since 2004. In addition, they outearn their peers in America's other Fortune 500 companies by around 66%.

Individuals who serve on bank boards also benefit financially. At Bank of America, for example, board directors received between $252,340 and $450,000 in compensation last year. By comparison, those on Arsenal's board serve without pay; they volunteer their time, knowledge and experience.

In The News

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