South Texas became a focus of growth during CEO that of Jérémy Garza 18 years with the credit union, but Gulf Coast FCU couldn’t really take advantage of it with its membership scope based on a community charter, population of 375,000.
“In the past four years, a few multi-billion dollar credit unions have entered this field. We had to see how we could expand our service area, ”Garza said.
The credit union‘s community charter was not going to allow the credit union to achieve Garza’s growth, and the board felt it needed long-term success. The CEO believes in leveraging the tools and expertise to accomplish what needs to be done – get into CUCollaborate.
“On my first 20 minute phone call with the founder / CEO of CUCollaborate Sam brownell, he already knew what the NCUA was asking for and how to pack it, “Garza explained.” It seemed like a really good decision for us to work with CUCollaborate because they already had a model. “
Not only did working with CUCollaborate take the heavy lifting out of the Gulf Coast FCU team, the credit union consulting firm, using its proprietary software, identified an area much larger than that. originally considered by Gulf Coast. The credit union might have been able to add a few more counties, but CUCollaborate was able to get all of this from the Gulf Coast FCU, plus, by moving from a community charter to a multiple common bond charter, adding a few groups and three zones. underserved. Underserved areas alone cover all the areas they could have gotten as a community charter and more!
“We have been incredibly pleased to be able to guide Gulf Coast FCU and Jeremy on the path of continued growth and relevance,” said Brownell. “When credit unions start using their membership domains as a strategic tool, we can reach more members in need of financial services and collaboratively adhere to the caring philosophy.
“I talk a lot about competition, nothing negative about it,” Garza admitted, “but when you’re one of the smaller credit unions, use people who have knowledge or technology. We do both. with Sam and CUCollaborate. “