Recently, other financial institutions have been in the news for all the wrong reasons. We feel for the customers that have been hurt by the actions of some of those institutions and have long standing measures in place to ensure those kinds of behaviors don’t happen at SC Telco. As the leader of your member-owned financial cooperative, I would like to take this opportunity to share how we’re different.
It’s my promise to always put member’s needs ahead of all else. Specifically:
- Cross-selling at SC Telco is based solely on member needs. No incentives are paid to “pile on” more products per member.
- We are led by volunteer directors, not paid boards. We answer to our member-owners instead of stockholders. Our volunteers are elected by our member-owners and are charged with representing only the best interest of the members in decision making.
- Earned profits are returned to our member-owners—the account holders—in the form of lower interest rates on loans, higher interest rates on savings, and lower fees.
For over 80 years, we have remained true to our core value and mission: To improve the financial lives of our members. I’m proud of what we do and how we do it. Our employees consistently deliver member-focused service and are truly here to serve our member-owners honorably and diligently.
These unfortunate recurring negative stories about bank customers being mistreated give us the opportunity to share our story. I hope as member-owners you will share the difference with your friends and family.
Steve Harkins, CEO