Has your bank ever made you feel like just another number? At Fayette County’s hometown financial institution, The Southern Credit Union, providing personal service to members is their passion. Here, you can speak with neighbors who genuinely care about your financial well-being. “We all speak Southern here,” Marketing Director Corey Widener said.
With a people-helping-people mindset, Federal Aviation Administration employees founded the credit union in 1963 in Eastpoint to serve FAA employees and their families. Today, The Southern Credit Union’s headquarters is in Fayetteville and includes branches in Peachtree City and 11 surrounding counties. Anyone who lives or works in one of the counties the credit union serves can become a member. Members’ immediate family and an extensive list of more than 500 employer groups are also eligible to join no matter where they live. Becoming a member is as simple as visiting one of The Southern’s branches with your driver’s license and opening an account with a $25 deposit.
Like a bank, The Southern Credit Union is federally insured and offers savings, checking, and all types of loans. Other amenities include ATMs, a mobile app and remote deposit capture. But there is one huge difference. Unlike a bank, account holders at The Southern Credit Union are also the owners. “Every member who has an account with us is considered a shareholder,” Corey said, adding that shareholders elect their board members. “We don't have a corporate board that makes money off the profits of the credit union. We're a not-for-profit organization. We have to be good stewards for our members and the money they trust us with. We can't have outrageous fees or interest rates.”
Earnings at The Southern Credit Union benefit members through the development of even better products and services. They help keep interest rates low on loans while providing higher interest earnings on savings and checking accounts, IRAS, certificates of deposit, and money market accounts. “We continue developing those things instead of putting that profit in our pockets like a bank,” Corey said.
A member-focused philosophy is also evident in the loan department. “As a not-for-profit institution, our priority at The Southern is our members’ well-being... not just their financial well-being, but overall," James Richards, vice president of mortgage lending, said. “Because they are our shareholders and not just a number, when our members talk to us about a mortgage or refinance options, we do what’s in their best interest, not what’s going to pad our bottom line. We take the time to look at each member as a whole person rather than just their credit score or how much they make. Homeownership is the primary way that most Americans create generational wealth, and we want to ensure that our members are getting the absolute best mortgage or home equity option available to them. We wouldn’t be here if it wasn’t for them, and for that reason, our members always come first.”
With identity theft on the rise, protecting account holders’ information is another priority at The Southern Credit Union. “We want to encourage anyone having issues to come in and speak to someone at a branch or visit our website for more information,” Corey said.
Being a good neighbor extends beyond banking at The Southern Credit Union. It is actively involved in the chamber of commerce of every community it serves. The Southern also participates in fundraising for charities including Bloom Our Youth, City of Hope, Reel People Care, Camp Southern Ground, Healing Bridge Clinic, The Utopian Academy for the Arts, Worldwide Discipleship Association, and Wreaths Across America.
Visit www.southernonline.org for more information about The Southern Credit Union.