No matter how the daily news cycle is spun, all anyone really wants is to live in peace with a semblance of security for their family.
There’s no getting around it, either. Peace and security are tied indelibly to one’s financial condition, which means having access to capital and a full spectrum of financial services. Fortunately, there is a local alternative that can save you money, especially in times of rising rates and economic uncertainty.
While it’s common for traditional banks to review loan applications at a distant regional office, Southeast Financial Credit Union has the ability to make loan decisions at the branch level. It’s the type of personalized service that nearly 40,000 members have come to trust and appreciate.
“The economy is going to slow down; the Fed is raising rates to a level that will force that as they fight inflation,” says Southeast CEO, John Jacoway. “We strategically target our loan rates to be very competitive throughout our product line and that should help. The goal is to drive demand and help our membership through whatever needs they may have.”
Headquartered in Franklin, Southeast has 11 branches throughout the state with $400 million in assets. It also has stable leadership as Jacoway and Southeast President Jeff Dahlstrom have a combined 49 years of service at the helm of the institution. They are directly accountable to the membership by a board of directors that is comprised entirely of credit union members. “Each member owns a share of the credit union,” says Dahlstrom. “We don’t have stockholders like the big banks that pay tons of dividends. Instead, we’re able to give profits back to our members in the form of better rates.”
Even among the uncertainty, Southeast Financial remains strong in Middle Tennessee, Williamson County and Thompson’s Station.
“Middle Tennessee is a little bit insulated in that our economy is bolstered by people moving into the area,” says Jacoway. “Thompson’s Station is a good example. It was once thought of as a suburb of Franklin but now it’s become its own thriving city. We want to be there to support the residents so that it continues to thrive.”
Historically, credit unions serve employer groups, but individual memberships are growing in popularity. In fact, if you have five dollars to open an account, are a Tennessee resident, and make a five-dollar donation to Autism Tennessee, you can apply for membership online. If you’re still not sure, this is a great time of year to take Southeast Financial for a test drive.
The Holly Jolly Loan, a $5,000 personal loan, will be available from Black Friday through Cyber Monday. SoutheastFinancial.org