Back in 1939, it was difficult, if not impossible, for a woman to get a loan. So instead of waiting for it to happen, women did what they have done for decades - they made it happen. Jane Phillips, wife of Frank Phillips of Phillips Petroleum Company in Bartlesville, Oklahoma, along with several other female employees, decided to form a credit union so that they could pool their money to save and borrow at a lower rate of interest than the bank. In April 1939, Jane Phillips Sorority Credit Union opened for business. Soon after, the credit union was opened to all Phillips Petroleum Company employees. In 1941, the name changed to 66 Federal Credit Union and remained such until 2013 when Truity Credit Union became the official business name.
While the idea of a credit union was not new (the first credit union in the U.S. was formed in 1909 in New Hampshire), the idea of a woman stepping into such a position was unheard of in the late 1930s. Luckily for the women in Bartlesville, Jane Phillips wasn’t hindered by societal expectations.
Fast forward to today, and this simple philosophy of people helping people continues to guide Truity Credit Union. They offer members a full range of financial services including savings and checking accounts, mortgage loans, and investment planning. True to credit union form, members are still owners and there are no shareholders like there are in traditional banking institutions. By reinvesting profits back into the membership group, they are able to offer lower rates with fewer fees. Today, you’ll find Truity Credit Union branches in Oklahoma, Kansas, and Texas.
We visited with three Lawrence branch managers to learn a little bit more about this local Lawrence lender.
Jordan Griffin - Branch Manager at Truity Credit Union - 6th Street
Jordan has been at Truity since 2018. She lives in Lawrence with her husband of three years, Maurice, their 2-year old daughter Alivia, and a cat named TJ.
What makes Truity different?
We really care about our members. Having somewhere that you can go in and you can talk to the people and get the care and attention you need is very important.
What do you like most about your job?
I like that I can help people make sure they are in the right accounts and products and know they are in good hands. This job enables me to be a part of community groups so when I’m there at work it feels much more like a hobby and hanging out with friends than a job.
What kind of financial advice would you give?
Go into your credit union and find a personal banker, a member consultant, and let them look at your account. I think that is probably the most beneficial thing that anyone can do because there are so many different products and you need to make sure you're in the products that best fit your needs. I think that is what we do best at Truity - our personalized service.
Johnathan Willis - Branch Manager at Truity Credit Union - 23rd Street
Johnathan has been at Truity since 2021. He lives in Lawrence with his wife and pet labradoodle, Cooper. They expect to receive a foster child by the beginning of this year. He loves sports, the outdoors, his family, and church. They live by the motto - Love God, love people, and make a difference.
What makes Truity different?
Our memberships - the fact that we don’t have to pay off a bunch of big investors or just turn profits. We don’t have to put money back into anyone’s pocket but our own members. We have lower loan rates and higher savings rates. The heartbeat of everything that we do is try to give it back to the community.
What do you like most about your job?
At Truity, we make an effort to get to know you as a member. You’re more than just a number. We look at so many things when it comes to loans, so many strategies as to how we can best help you. We care because at the end of the day we have to make the community happy to keep going.
What kind of financial advice would you give?
I have two pieces of advice. Don't spend money that you don't have and always, always take time before you make a big financial decision.
Caitlin Fisher - Branch Manager at Truity Credit Union - 31st Street
Caitlin has been at Truity since March, 2022. She lives in Lawrence with her husband Zachary, their two-year old daughter, two cats, and a dog. She loves traveling, hiking, and coffee. She was previously very involved in the Lawrence community through her career as a REALTOR® and had built really strong relationships with people at Truity due to their community involvement. Those relationships made the branch manager position a natural choice when it became available.
What makes Truity different?
We are not for profit, so since the emphasis isn’t on making money for a small group of people, we are able to really prioritize members. Membership is at the heart of everything we do because we don't exist without members.
What do you like most about your job?
My very favorite thing about my job is watching our members and our employees grow. We’re able to help walk people through options and make a difference in their lives and make their financial life better. I also love helping our employees understand how to help membership and how to grow professionally. We have a great group here.
What kind of financial advice would you give?
Probably the best piece of advice I could give the public is if you're not happy with the service you're receiving, find a place where you receive good service. If you feel like just another customer, look around for somewhere better.