Family Savings Credit Union

Financial service being a commodity, similar products are available at most banking institutions – but it’s the exceptional member service that separates Family Savings from the rest. On the revenue side, its primary thrust is consumer loans, followed by checking accounts with the use of electronic services (mainly debit cards) that drive the remainder of the bulk of the revenue. Basically, the Credit Union is sustained by typical consumer needs from checking, to savings, to loans – as little or as much as they can afford to borrow. “That ‘little’ can be as much as $300 for a washing machine,” says Hill. “My dad worked at Goodyear Tire & Rubber Co. for 45 years until he retired. He opened an account at Family Savings for me when I was 10 years old, so I’ve been a member for 51 years. When I got married, my wife and I did all our banking there and I remember going over when I needed $200 for a refrigerator and without hesitation they gave me the loan. And we continue to do small amounts, right up to having financed an airplane or two. We’re really proud that we can finance our members’ needs, no matter what they are.” When Hill started at Family Savings, he was the IT Director and he hired Varnon as a part-time operator in the computer room. Not surprisingly, technology has become an important focus of the Credit Union as it grows. Currently, they offer a full range of IT products and apps that allow transferring money, checking balances, mobile deposits, etc. through one’s smart phone. On the environmental front, the credit union is promoting paperless transactions and e-statements to members. And company employees are encouraged to do as little printing of material as possible. Hill recalls, “It doesn’t seem that long ago when ATM cards had a $300 limit, regardless of their balance, because it was not interactive. And every night we’d upload a file of the transactions and post them to the members’