Synergy Partners (60657), a $11.0M credit union headquartered in Chicago, IL, led by CEO Blaszak, reported $8.3M in member deposits at the end of 2024 Q4, a decrease of $1.4M (-14.6%) compared to the same quarter last year.
The credit union's 25.1% loan-to-share ratio reflects ample liquidity with room for additional lending capacity.
At a high level: balance sheet is deposit-rich with room for asset deployment.
Deposit Composition
Synergy Partners's deposit portfolio is led by Regular Shares, comprising 77.4% of total deposits—basic savings accounts with no withdrawal restrictions. The heavy concentration in liquid shares provides operational flexibility but may pressure net interest margin in a rising rate environment.
Deposit Portfolio Breakdown
| Deposit Type | Balance | % of Total | YoY Growth |
|---|---|---|---|
| Regular Shares | $6.4M | 77.4% | -14.3% |
| Share Certificates | $938K | 11.3% | -23.2% |
| IRA/KEOGH | $601K | 7.3% | -11.8% |
| Share Drafts | $334K | 4.0% | +4.2% |
Source: NCUA 5300 Call Reports (2024_Q4)
Quarterly Deposit Trends
Deposit contraction may reflect rate-sensitive members moving funds to higher-yielding alternatives, or broader economic pressures affecting member savings capacity.
Quarterly Trend
| Period | Total Deposits | QoQ Change | Avg/Member |
|---|---|---|---|
| 2023 Q3 | $10.0M | $7K | |
| 2023 Q4 | $9.7M | -3.2% | $7K |
| 2024 Q1 | $9.8M | +0.8% | $7K |
| 2024 Q2 | $9.1M | -6.5% | $6K |
| 2024 Q3 | $8.5M | -7.3% | $6K |
| 2024 Q4 | $8.3M | -2.3% | $6K |
Source: NCUA 5300 Call Reports
Member Deposit Metrics
Synergy Partners serves 1,344 members, a decrease of 7.9% year-over-year. The average member deposit of $6K has declined 7.3% compared to last year.
Deposit retention remains a key focus in the current rate environment.
Historical Context: Since the 2008 Crisis
Synergy Partners's deposit base has contracted 21% since Q3 2008, when the financial crisis was at its peak. At that time, the credit union held $10.5M in member deposits serving 2,531 members.
Membership has declined 47% over this period, reflecting broader industry consolidation trends.
Peer Comparison
Among 674 credit unions in its $5.5M–$16.5M asset peer group, Synergy Partners ranks in the 4th percentile for deposit growth. This suggests room for improvement in member deposit attraction and retention.
Outlook
Synergy Partners's deposit trajectory will depend on rate competitiveness, member retention efforts, and the broader economic environment affecting member savings behavior.
Synergy Partners's Q4 2025 results, expected in early 2026, will provide further insight into whether the credit union can stabilize its deposit base.
Track This Credit Union
Monitor Synergy Partners's quarterly deposit performance, member metrics, and share composition with Finleet Terminal.
Data Sources: NCUA 5300 Call Reports (2024_Q4), NCUA Historical Data (2007-present), Finleet Proprietary Analysis
Methodology: Year-over-year growth calculated comparing 2024_Q4 to same quarter prior year. Peer groups defined as credit unions within 50% asset range. Average deposit calculated as total shares and deposits divided by total members.