Since 1936, Franklin-based Southeast Financial Credit Union has been providing its members with products and services that rival those of traditional banks. And as a not-for-profit entity that is insured by the National Credit Union Administration, Southeast Financial frequently does so at a better value.
Recently, we chatted with the Southeast Financial marketing team to find out what makes a credit union a viable alternative to retail banking. Here are some excerpts from that conversation.
What are some common misconceptions about a credit union?
1 - There’s a perception that credit unions are hard to join. It’s true that each credit union stipulates who is eligible to join. Our membership is based on a shared common bond, whether it be through family, employer, community, or membership in an affiliated organization. For example, many members qualify to join by making a $5 donation to Autism Tennessee, an affiliated organization, during the account opening process.
2 - Another is that credit unions don’t offer as many products.
Credit unions generally offer the same products as banks. At Southeast Financial, that includes savings, checking, investment, and Christmas Club accounts. We also offer personal and vehicle loans, credit cards, home equity loans and lines of credit, mortgages, and commercial real estate loans.
How does Southeast Financial differ from its competitors?
As one of the first credit unions in Tennessee, Southeast Financial has a history of over 85 years of supporting our members and the communities we serve. We respond to the ever-changing needs of members by providing resources for every stage of life. Banking local with us guarantees exceptional service that is unmatched by our competition.
How can Southeast Financial give me peace of mind with respect to evolving financial and market conditions?
Especially in times like these, financial planning services can help members build a plan for meeting their future goals and help them stay on track. Our members also have access to Money Management, an online banking tool that allows them to view and categorize their transactions, make budgets, set goals, and more. There’s even an option to link external accounts for a more complete financial picture.
How is Southeast Financial involved in the community in terms of philanthropic and charitable activities?
We just wrapped up our 19th Annual Southeast Financial Golf Classic. Each year, all proceeds go to Hope Clinic for Women and United Cerebral Palsy of Tennessee. We've raised over $171,000 since we first began. Other community outreach efforts have included Christmas stockings for the children's hospital at Williamson Medical Center, school supply drives, volunteering with Second Harvest Food Bank, and blood drives at several of our branches.
SoutheastFinancial.org.