News

A broad range of banking services is attracting a growing number of electric cooperative employee family members to 1st Cooperative Federal Credit Union. Almost 36% of credit union members are non-employees—either family members or retirees—as of May 2020.

Officials attribute the growth to an expansion of digital banking capabilities.

“Members increasingly use our online banking system or our mobile app to deposit or transfer funds and to pay bills without writing checks,” said Jo Ann Burnside, chief operating officer of the credit union.

Quick turnaround on loan applications may be another reason for membership growth among employees and their families.

“It just blows people away that we can often complete a loan application and approval in one day,” said Burnside. “We don’t guarantee it, but the fact is, that’s often the case.”

“Apparently, word gets around,” she said, in reference to growth in family memberships, which are open to electric cooperative employees, trustees, and their families, including spouses, children, grandchildren, parents, grandparents, siblings and in-laws.

More information is available at www.1stCooperative.com or by calling 803-796-0234.

View this month’s Money Talk