Business View Magazine | October 2020

99 BUSINESS VIEW MAGAZINE OCTOBER 2020 FAMI LY SAV INGS CREDI T UNION they also brought in other employee groups. That foresight of the Board to expand has kept us in business today because the original plant that formed the Credit Union has now been closed.” Since its inception, Family Savings has grown to over 65,000 members and half-a-billion dollars in assets. Yet, the founding mission is still intact: “Not for Profit, Not for Charity, But for Service.” Family Savings is dedicated to giving members a lower-cost alternative to the traditional banking system. Members, not profits, have always been, and always will be, the top priority, with a focus on providing state-of-the-art products and services backed by personalized member service. Danny Varnon, EVP of Family Savings Credit Union, recounts, “A man named Bill Rutherford was on the early supervisory committee of the Credit Union. His grandson told me that in the first three years, they grew from the initial $35 they started with to a little over $3,200. At that point, one of the committee members said, “I’ve got to get off this committee, it’s all turned out to be way more than I thought it would be.” And this was with just $3,200! Now we’re over $500 million. So it’s been quite a journey. We currently have about 215 employees and nine branches (soon to be 10) spread throughout northeast Alabama and northwest Georgia in a 20-county area.” As the name implies, Family Savings Credit Union treats its members and employees like family. Ensuring members feel comfortable when they interact with the Credit Union is key, whether they’re coming into a branch, or phoning the call center, or using the online call center. “We want to look at the whole picture in trying to help our members and see what others don’t see,” says Hill. “With the employees, if they’ve got a medical issue or a family issue, that takes precedence over their work life. We’ve expressed that over the years and we’re quite proud of it.” President & CEO, Monte J. Hill Executive Vice President, Danny Varnon