Addison Avenue Federal Credit Union · Palo Alto, CA United States
Company Description
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This link will open in a new window Addison Avenue Federal Credit Union would like its members to take a little stroll down its financial services sidewalk. Serving approximately 150,000 members, the credit union provides deposit, lending, and investment services through some 20 branches; about half are in California and Colorado, with the rest scattered throughout the US and Puerto Rico. It borrows its name from the street in Palo Alto, California, where computer giant Hewlett-Packard (HP) was founded. The credit union serves current and former employees of HP and their family members, as well as employees of Agilent Technologies , Philips Electronics , and about 25 other high-tech firms. To read the full description, subscribe now.
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Key Addison Avenue Federal Credit Union Financials
| Company Type | Private - Not-for-Profit Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $126.2 |
| 2008 Employees | 391 |
Addison Avenue Federal Credit Union Executives
17 executives listed for Addison Avenue Federal Credit Union's Palo Alto, CA location.
| Title | Name & Bio | Contact |
| Chairman | John Weidert | Network |
| Vice Chairman | Eric Hill | Network |
| President and CEO | J. Benson Porter | Network |
Competition
Competitive Landscape for Addison Avenue Federal Credit Union
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Addison Avenue Federal Credit Union Competitors
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