BALTIMORE—When members walk into the Golden Ring office of Point Breeze CU these days, Branch Manager Shannon Carter likes what she sees—and hears.
"I see a lot of smiles and I don't hear a lot of members complaining about their finances," said Carter.
What that tells Carter is the tough times members faced during the economic downturn are ending. Members' balance sheets are in better shape, and that is reflected not only in their attitudes, but in their banking habits, she added.
"I don't see as many members' names on the overdraft report and I don't get as many people calling me asking for a fee refund because they are out of work," Carter said. "I see the change."
The shift in the Hunt Valley, Md., CU members' fortunes is reflected in the loan performance of the branch, which Carter described as "phenomenal" this past summer.
"We had a busy, busy June, July and August. It's clear people are getting comfortable again with borrowing, plus we had a great 1.99% auto loan rate that members could use for a new car or refi."
What also may be leading to the uptick in business is the local community gaining a much better understanding of what a credit union is. Consumer distrust of—and often displeasure with—banks in the last few years has boosted branch traffic, as well, Carter said.
"I think a lot of the news stories about credit unions and banks have helped us for sure. People are much more aware now of the credit union difference."
However, the CU education delivered via news outlets hasn't changed the approach Carter's office takes—which is to always talk to members and prospective members about the credit union business model. "Any time I wait on members I try to find time to ask if they understand why they are here and what benefits a credit union brings to them over a bank. Some know and some don't."
Carter explains that members have an ownership stake in the credit union and a say in how the cooperative runs. "When I get to the non-profit part, and explain that the money we make is turned back to the membership in lower loan rates, higher deposit rates and lower fees, that's when the light bulb goes off and members begin to really understand what a credit union is all about."
Members also quickly learn they get great service at the Golden Ring office of the $740 million-asset Point Breeze, said Carter. "I tell my staff to treat everyone like they'd treat their grandmother. You always do your best for grandma, right?"
Besides strong service, a well-run branch relies on teamwork between staff, reminded Carter. "But teamwork is not something generated just by your branch employees. A supportive team starts from the top and rolls down—from the board, to CEO, to managers and then to staff. That's the way we do it."
