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Springfield, St. Louis Credit Unions in the News

Recently, news publications in both Springfield and St. Louis highlighted the credit union difference. The Springfield Business Journal hosted a credit union CEO roundtable, and the St. Louis Post-Dispatch named four credit unions as "Top Workplaces."

Springfield Credit Unions Participate in Roundtable

The Springfield Business Journal invited area credit union presidents to participate in a roundtable discussionRepresenting credit unions were Judy Hadsall (CU Community Credit Union), Craig Tabor (BluCurrent Credit Union), Michele Sechler (Foundation Credit Union), and Bruce Webb (Assemblies of God Credit Union). 

Pictured is Bruce Webb, left,
and Michele Sechler.

via SBJ article

A number of topics were addressed, including field of membership. Participating CEOs provided background and explained why/how credit unions expanded their fields of membership to better serve their members.  

Another point of conversation covered technology. When asked which technology their credit unions would employ next, Tabor's answer was blockchain. 

"If we don’t go along with the blockchain technology, we don’t think we will exist in 15 to 20 years," elaborated Tabor. "I talked about how banks used to not take care of what credit unions could, but now the roles have reversed and it’s large banks versus credit unions and community banks. The six largest banks in 1992 went from having the smallest percent of the market share, to having 70 percent, whereas the community banks used to have 60 percent in 1992, now they only have 18 percent."

They also discussed trends in brick and mortar. Hadsall noted that interactive teller machines (ITM) are becoming more popular. ITMs act as a “virtual teller window” giving members the ability to make transactions as they would inside the branch such as withdrawals, deposits, payments, transfers and check cashing. ITMs allow credit unions to serve members in more locations with less staff. 

Yet this isn't for all credit unions. Sechler explained that Foundation's members value in-person service.

"My membership is older, so when we moved into our new location, we were probably looking at a client base with 65 percent over 60. They came in wanting that personal service," said Sechler. "We have that heritage so we’ve probably got four people staffing each location."

For more info, read the full article

St. Louis Credit Unions Make "Top Workplaces" List

The St. Louis Post-Dispatch recently named its Top Workplaces list - and four credit unions made the list! They are:

  • First Community Credit Union (Chesterfield, MO)
  • Scott Credit Union (Carbondale, IL)
  • St. Louis Community Credit Union (St. Louis, MO) 
  • Vantage Credit Union (Bridgeton, MO)

Partnering with WorkplaceDynamics, the Post-Dispatch surveyed 177 organizations. The employee survey asked for responses from 24 statements covering seven factors, like the company's alignment, effectiveness, connection and employee engagement.

“Time and time again, our research has proven that what’s most important to them is a strong belief in where the organization is headed, how it’s going to get there, and the feeling that everyone is in it together,” said Doug Claffey, CEO of WorkplaceDynamics.

 View the St. Louis Post-Dispatch's Top Workplaces.