True Sky Credit Union’s Sean M. Cahill has worked in the financial industry for nearly 30 years. Throughout his career, he has worked for both large and small financial institutions, working his way up from a teller to his current position as president and CEO.
While he has experience in both banks and credit unions, he is passionate about being able to give back to members in the way that is unique to credit unions.
Since he took the helm five years ago, True Sky has doubled in asset size, added 10 new locations, and has been named by Forbes as the Best Credit Union in the state for the past three years. For Cahill, this proves that the sky really is the limit for his member-centered financial institution.
Q. What do you enjoy most about your position at True Sky? What makes you happy to go to work every day?
A. At the heart of what we do is people helping people. As a not-for-profit financial cooperative formed for the benefit of our members and communities, it feels amazing to come to work every day for a company that mirrors my personal values.
The biggest influence in my life and career is my wife and soulmate, Melissa. As a former credit union professional herself, she has guided me to where I am today, not just as a professional, but as a husband and father as well. With her at my side, anything is possible.
Q. What was the main idea behind the development of the Borrow & Save program? How will it serve True Sky members?
A. We know bad things sometimes happen to good people, and we should be there to support them, not take advantage of them in their time of need. The Borrow and Save Program was created to defend against the predatory lending practices of PayDay Lenders.
The True Sky Borrow and Save Loan provides emergency cash when a person needs it, at a much, much lower rate than a PayDay loan shop. It has a special component that takes 25% of the loan amount and pledges it in your savings account until the loan is paid off. That way, if another unexpected expense occurs, you can use your savings account to help with it, rather than going and getting another loan.
I know that may sound counterintuitive from a lending institution, but we are truly here to help people.
Q. What was the driving force behind the development of the digital branches?
A. Our goal is to move from a credit union that simply has cool technology, to a Technology Company with Purpose. This starts with understanding our membership and delivering value with technology that makes their lives easier.
Our newest branch in Oklahoma City, located at the corner of 23rd Street and Missouri, is a great example. From the minute you enter this technology branch, you can just feel how it’s different and exciting. It is all technology and no employees. From a concierge video service when you enter the facility, to lights on the floor that direct you to the proper office, opening an account, applying for a loan, or just chatting with our fantastic employees will never be the same.
Through an innovative partnership with New Bethel Baptist Church, which allowed us to lease the land, we added a large community room. We will use that space to offer things the community really needs, like financial literacy, job skills clinics, a VITA site for low-income free tax preparation, and more.
Q. How does giving back to the community and those in need help fulfill True Sky's mission?
A. Philanthropic efforts play a massive part of what we do as a credit union. We have a group called the Sky Crew that goes out to perform random acts of kindness. You can see them taking over a gas station to give out free gas during times of high fuel prices, taking over a grocery store to give out free groceries in a food desert community and more.
Our True Sky Foundation plays a huge part in everything we do. They support scholarship and grant programs and allow us to give a significant amount of money to the Children's Hospital Foundation as part of Children’s Miracle Network every year.
We are also deeply involved with the World Council of Credit Unions in support of the tragic things that are happening in Ukraine. Almost 50% of their country’s credit unions have disappeared since the beginning of the conflict. We have raised over $30,000 to help get credit unions and credit union employees back on their feet. In addition, through the World Council of Credit Union’s Global Bridges Program, we are working with Polish Credit Unions to help with the Ukrainian diaspora that is still occurring. I would urge everyone to take a look at our website and donate even $5 to help the effort. Every dollar goes a long way.
Q. How will True Sky continue to serve the needs of your members and the larger community?
A. We want to be that trusted resource you can go to, to get your questions answered. Sort of like your financial doctor, where you can trust the advice that you are being given is in your best interests. We will continue to listen to the voice of our members, and create the safest, most sound financial institution in the state of Oklahoma.
True Sky is open to everyone. We're here to serve you, empower your financial decisions, and enrich your lives. As a member of True Sky, you are an owner, and have a voice in how our company is run. Come give us a try, I can guarantee that you will not be disappointed.
For more information about True Sky Credit Union, visit TrueSkyCU.org. Find them on Facebook at facebook.com/TrueSkyFederalCU, or @trueskycu on Instagram.
"As a not-for-profit financial cooperative formed for the benefit of our members and communities, it feels amazing to come to work every day for a company that mirrors my personal values."
"True Sky is open to everyone. We're here to serve you, empower your financial decisions, and enrich your lives."