Five miles south of Cincinnati, The Great American Credit Union Road Trip moseyed into Highland Heights, home of Kentucky Educators Federal Credit Union. With only one location and a single no-surcharge ATM on the campus of Northern Kentucky University, CU President John Vastine said the CU had to make good use of electronic means to serve members. "We also belong to Alliance One, and there are seven other ATMs in the immediate area," he said.
"We serve 19 different school districts spread out among six counties," Vastine said. Those six counties are all within a 50-mile radius of the credit union's headquarters, he added. KEFCU also serves members and families of the Kentucky Education Association, the Northern Kentucky Cooperative for Education and Thomas More College.
The $8-million CU's members now total 3,500, but Vastine allowed that there is a "large potential field yet to be tapped. It's just that we've decided to grow in increments-in all ways and areas. That way, we can handle the growth. We're full-service, except for mortgages, and I think we've come a long way in a short time."
KEFCU's 24-hour phone access allows members to do just about anything, Vastine said, and sees an average of 5,000 calls a week. "And we still have a lot of branch traffic."
With only himself, one loan officer, one electronic services representative and two member services reps to run the credit union, Vastine said he plans to make the credit union's website (www.nkefcu.org) fully interactive by year's end. Members will be able to apply for loans and conduct financial business through the site, he said. Then, the part-time marketing person who maintains relationships with officials in each school district, will be able to start a full-throttle membership drive.
Vastine's approach includes a desire to partner with other groups and businesses as well.
"I find that people are very receptive to the idea of partnering. You just can't think small," said Vastine.
