DO WHAT YOU SAY YOU WILL DO!  That’s what that silly-looking acronym means.  A very serious message tucked inside a very funny set of letters.  Our members count on us.  They trust us with their money.  They instill great confidence in us to help them manage their money.  With the exception of their kids, money is way up there on the list of things that draw one’s utmost attention.  So folks definitely expect us to “dwizzie-widd,” and we do.

I recently read a J.D. Power & Associates survey in which the banking industry got punched in the stomach with a few hard-hitting results.  The knockout blow dealt to big banks everywhere was that their customers said they were “unhappy due to issues with problem resolution.”  Ooops!  That’s a hole in the bankers’ “dwizzie-widd.”  The message is simple, and it’s loud and clear: banks don’t do what they say they will do, and you just can’t do that to people.

At St. Louis Community Credit Union, we do what we say we will do – and there’s a reason for that being the case.  We’re a cooperative financial institution in which our only reason for existence is to make our members’ life a lot better.  That’s what we say, and that’s what we do!

Interestingly, I have yet to hear or witness any prominent discussion among consumers regarding the fact that the banking industry has set record profits year over year over year – for what seems like decades. That might be a stretch, but more years than not in recent times, banks have annually set new profit marks. How come nobody’s talking about this?

Well, I’ll talk about it. Consumer fees continue to increase, and a major portion of bank revenues come from fees. In the interest of fairness, we make fee income too, but not because we charge high fees (ours are some of the lowest you’ll find anywhere).

The difference is that we return the income we make to our members in the form of better services, better rates, fewer fees, fewer account restrictions, more free services, etc. etc. That’s what not-for-profit cooperatives do. The banks…well, they give their profits to stockholders. That’s their motivation every morning…increase stockholder value. Who pays for that increase in value? The little guy. Sort of sounds like “Big Oil” to me.

Wait a second…aren’t banks struggling right now because of the economy? Not according to the 8th Federal Reserve District located in St. Louis. They report that this region’s banks are performing at just under last year’s levels in return on assets (i.e. profitability) for the 1st quarter of 2008. At who’s expense? I think we all know the answer to that one.

What’s the old saying?  If it seems too good to be true, it probably is.  Well, that is great advice these days as it relates to so many offers from area financial institutions.  The fancy advertising talks about how you’ll get enough money to fill up your gas tank a couple of times – just for opening a checking account.  That’s all it takes.  Just walk in and open a checking account.  Really?  Yep, and out you go with at least $100.  Really?

Our credit union members are smart.  How in the world can a financial institution afford to give someone $100 for a small balance checking account?  Well, (1) there are rules…in many instances, lots of them; (2) fees are punitive if you break those rules; and (3) it’s easy to break the rules.

Sadly, some institutions count on you to mess up. And you know what? We’re all human, so (even with best intentions not to) we mess up according to their plan.  Think of the “too good to be true” offer like this: It’s like going to a casino to get rich. You rarely beat the “house.”

“Fiscal fitness” is essential, as well.  The number that matters most in measuring your standard of living is your credit score.  A number ranging from the 400s to the 800s has a direct effect on your financial health.  The higher the number, the lower the interest rate you pay for credit.  That’s a big deal when you consider that the difference in interest rates can equate to thousands of dollars in interest payments.

Just like getting physically out of shape happens over time, so does poor credit.  Months of missed payments progress to a low credit score and a high rate of interest.  And just like getting your body back into healthy form takes time, so does the correction of your credit score.  There are no quick fixes.  To begin the journey to improve your credit, pay your bills on time.  While there are a number of factors affecting your score, nothing is weighted more heavily in your favor than paying your bills on time.

Physical and “fiscal” fitness both start at the same point.  Set a goal as to what numbers you want…then get to work!

Question #1: Is it good for the members?  Member benefit and member give-back are what our credit union is all about.  We must insure that all members gain benefit from what we do.  The cooperative, not-for-profit spirit of credit unions acts as a beacon to our decision-making.  The member must benefit or it’s not going to happen.

Question #2: Is it good for the staff?  So much of St. Louis Community Credit Union’s success is because of our dedicated employees.  They are the Credit Union to our members.  Buildings, technology and products all come to life because of great people.  Why would we ever make a decision to discount or diminish the value of these outstanding ambassadors?  As cornball as it might sound, we firmly believe that the better and happier the staff, the better and happier the member.

Decisions to open new branches, create new products, change rates, improve delivery channels, enhance member service first must pass the “Yes Test.”  Both members and staff surveys show that our “yes-yes” requirement is working.  We’ll keep it up.

Back in the day, my father’s way of getting more “bang for the buck” focused on expense management.  Growing up, he would say things to me and my siblings like: “Turn off the lights – we don’t have stock in the electric company!”  Another gem was: “Please close the refrigerator door – that cold air doesn’t come cheap.”  And my personal favorite: “Do you think money grows on trees?”

In addition to turning off lights and closing refrigerator doors, dad could have said a few other things to us kids.  How about: “Join a credit union and earn more in interest?”  Or what about: “Pay fewer fees with credit union checking?”  Here’s some good advice: “Open a CD with as little as $300.”

Remember…when there’s a lot more month than money – or if you’re one of those people who feels like the harder you work, the more behind you get – you have a couple of solutions.  (1) Manage your household expenses a little more closely; and (2) stretch your paycheck by using credit union services that feature better rates and lower costs. 

Dad would have been proud.

Quite frankly, we choose not to participate in the crazy rate wars that exist in today’s marketplace. There are times we have the best rates…other times we just miss. But most of the time we’re going to be in the top 10 to 15 percent in the region. The same holds true with our savings and investment products. You’ll always find that we offer great rates, but we will not have the very best rates every single time.

We rely on our total product offering(s) as the primary reason people are attracted to the Credit Union. Lower fees; higher savings and CD rates; more free services; less small print; minimal account restrictions; excellent service and greater convenience are just some of the benefits provided to our 30,000-plus members. We would rather have an array of really good offerings than to be the best at one rate and adversely affect so many other benefits. Overall value is what we want our members to realize.

Sure enough, when rate is the only determinant, we may lose. We aren’t happy about the loss of business, but we remain focused on serving the larger good of all members. That’s the cooperative spirit of credit unions. We love all of our members.

We love it when our members tell their story about how the Credit Union served them and their families’ needs. We’ve heard some great ones over the years and we never tire of members’ heart-warming, kind compliments. Our members’ words of support serve as the kindling that fires the passion of our many employees. As the employees of the Credit Union talk among ourselves, we’re pretty sure we’re on the right path as it relates to our philosophy of “people helping people.” But to hear it from our members really fans the flames of our desire to do even more.

We’re dedicated to our not-for-profit, cooperative structure. Thanks to all of our members for loving St. Louis Community Credit Union. We love you, too. It means a lot to us. Now if you could tell everyone you know, we’d be able to change even more lives for the better and keep this “lovefest” in full swing.

One point that I do believe is an essential trait to great leadership is passion. Well, good news for our members…St. Louis Community Credit Union is loaded with leaders. Let me share with you why the passion displayed at every level in our organization is absolutely extraordinary.

As employees, we don’t get rich working in credit unions. Our passion for doing the right thing and serving people is what drives us to work every day. Our almost 90 employees have a deep concern and genuine care for every member. It is a real pleasure to lead so many people who move in lockstep to insuring our members’ well-being. Doing the right thing for the member is where the passion begins, and it blossoms from there.

The water fountain discussions, e-mails, meetings, training sessions, and our company newsletters all speak to maintaining a passion for serving our 30,000-plus members. The employees of St. Louis Community know why we exist – to serve our members. Yes, our members are in good hands for years to come because of so many passionate people.

First, a community’s economic empowerment is born of the residents having more money in their pockets to spend on goods and services found in that community. We like being a part of both reclamation and growth. We do so by pricing our products and services in a way that allows our members to both save and spend more of their hard-earned money in a productive manner. This promotes personal well-being, as well as creates vibrant community health.

Second, in addition to economic empowerment, we have a social responsibility to the communities we serve. Our staff volunteers their time and money to the many causes that spring hope, progress and growth into the many neighborhoods in which we work and live. We love the people and communities we serve, and it is evidenced by our unfailing commitment – both financially and through volunteer service.