Quarterly President's Message
Our Members Are Our Top Priority
by Todd Hall, President, Truliant Federal Credit Union
Opening a checking account may seem like a small decision. But, who you chose to do your banking with is important. It affects you, your family, your future and your community.
Your financial institution will see you through some of life’s most important moments, including new car purchases, homeownership and a comfortable retirement. In your community, we work behind the scenes to provide loans to small businesses and local employers, or sponsor local events and fundraising for meaningful causes.
We’ve built our reputation over 65 years. We hope there’s comfort knowing Truliant won’t be acquired or merged into another financial institution.
It’s gotten hard to keep track of who owns whom. It’s no wonder some have trouble keeping track of who owns their local bank considering recent mergers, among them: BNC Bancorp and High Point Bank; First Bank and Carolina Bank; CommunityOne Bancorp and Florida-based Capital Bank; Yadkin Bank and NewBridge Bank; and then Yadkin Bank and Pittsburgh-based FNB Corp.
Who can keep up?
These mergers don’t tend to benefit you. They often result in higher fees, employee layoffs, branch closures or other cost-cutting changes – all to put more money in shareholder pockets at the expense of their customers. Finding ways to pay higher dividends and increase their stock prices ultimately comes at the expense of their customers.
Who you bank with matters.
At Truliant, we are owned by you, our members, and can’t be sold. We value our employees. They are the local talent and leaders you depend on for guidance in making financial decisions and help in building a strong financial future. Our reputation isn’t built on “earnings at any cost”. It is built on always having our members’ best interests at heart as we help provide financial guidance.
Your relationship with Truliant is grounded in your member-ownership. You own a part – a share – of Truliant. Our profits are returned to you in the form of better rates, lower fees, the latest technology and convenient new locations.
We know that reputation precedes all of us. We hire caring people and work to train them to be a reflection of Truliant’s values to create a culture that aligns with our mission to help you reach your goals, your dreams and to build a life with a strong financial future. We want our staff to feel comfortable to be same people in their professional lives that they are in their personal lives and communities. At the end of the day, we want our employees to be happy knowing they made a difference in our members’ lives.
At Truliant, we know each member has different financial needs. You may only need guidance. We don’t product push either. Never did and never will. We don’t incentivize the sale on specific products, or fire individuals that don’t meet account quotas or produce fee income.
Some financial institutions lose sight of those they serve. Pushing for profit and creating pressure for sales can spiral out of control – as we saw last year with a major banking institution’s widespread phony account opening experience. At Truliant, our focus is and always will be you, our member-owner. Our role is understand your needs, goals and what matters most to you so that we can help you create the life you want.
There’s a lot to consider when choosing whom to bank with. Thank you for choosing Truliant.