Business View Magazine | December 2020

163 BUSINESS VIEW MAGAZINE DECEMBER 2020 GREAT LAKES CREDI T UNION Great Lakes Credit Union is very active in the auto loan market, offering lending through its branches, online portal, and loan center. It also has a robust variety of mortgage products – from home equities all the way through second mortgages and first mortgages. On the deposit side, the credit union offers a free checking product. For higher income members, that same free product can earn high dividends. “But attached to that high-dividend earning checking account is what we call a companion money market,” Bugg notes. “So that money market is tied into high-yield checking. If you meet our requirements for that high-yield checking, we actually pay you an extra dividend on the funds you have within that companion money market account because you met the qualifications of the high dividend.” GLCU is in the process of gathering member and employee feedback for the next generation of its online and mobile platforms. Journey mapping is also being employed to better understand how members utilize those specific products and services to ensure the upgrades are conducive to consumer needs. The goal of this evaluation and analysis is to improve the end user functions of those platforms and make the credit union’s website more informative. Refining existing services and creating new ones out of necessity is how Great Lakes Credit Union plans to come out of the COVID-19 pandemic as a stronger institution. From philanthropic efforts to Housing and Urban Development counseling, the credit union’s efforts have resonated with the communities it serves and its member owners. Bugg shares, “It’s becoming very clear now how we are different and unique as a credit union that operates in this really highly competitive market and that has really served us well and it’s giving us that foundation to grow upon in the future.” Strategic Guidance for Accelerated Growth Raddon.com