Building blocks for success

KEEPING COMMUNITY IN THE CREDIT UNION: Stephen J. White, left, president and CEO of the Westerly Community Credit Union, cuts in on customer-service representative Marcy Riley, next to him, as she interacts with customers Cheryl Allen, right, and her daughter, Danielle, at the credit union's Granite Street location in Westerly. / PBN PHOTO/MICHAEL SALERNO
KEEPING COMMUNITY IN THE CREDIT UNION: Stephen J. White, left, president and CEO of the Westerly Community Credit Union, cuts in on customer-service representative Marcy Riley, next to him, as she interacts with customers Cheryl Allen, right, and her daughter, Danielle, at the credit union's Granite Street location in Westerly. / PBN PHOTO/MICHAEL SALERNO

The story behind the Westerly Community Credit Union’s success is contained in its name.

President and CEO Stephen J. White said the institution’s success is all due to an array of local community-outreach programs and special treatment of local members that, combined, have attracted loyal customers for more than 65 years.

The credit union’s “Take the Challenge” program, for example, finds a customer’s overall needs, even if these are not the goals immediately on that person’s mind, White said.

“Prospective credit union members are asked a series of questions examining what they want money for and the officer builds off of that,” White said. “Maybe they want a car loan, but also are worried about planning for their child’s college education. So the best advice might be getting a small car and putting the money they save away in a 529 Savings for a college fund.” Since the program started in 2012, Take the Challenge has helped more than 3,100 members, he said.

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White said most credit union products are the same from institution to institution. The more important point is, does the customer understand what he or she is getting into? “We will never put a member into a program that doesn’t fit them,” White said.

WCCU customers trust the institution because of this level of service, said Meg Sisco, vice president of marketing. And as a result, “they are very loyal.”

From humble beginnings in October 1948, the credit union has evolved into a full-service, $22 million financial institution with more than 15,800 members served by four branches: two in Westerly, one in Richmond and one in South Kingstown at South County Commons.

There are multiple examples of how the credit union’s loyalty to its customers extends to the local community as a whole.

The WCCU Financial Literacy programs include the “Save for America School Savings Program.” Coordinated and sponsored by WCCU since 2006 and run by parent volunteers, it encourages students to bank at their local school as way to learn the importance of needs versus wants. An average of 650 students each year in grades K-4 participate in the program, across eight South County elementary schools.

With a similar goal in mind, the CU4Reality Financial Literacy Fair that the credit union has sponsored every year since 2011 teaches students how to live within their selected career income. Working within a budget, the students meet with local businesses, including insurance, auto, retail and utilities companies, to help them understand real expenses and the choices they will need to make to avoid debt as an adult. Annually, approximately 250 students participate from three South County High Schools: Westerly High School, Chariho Regional High School and Narragansett High School.

The Cemark Financial Literacy Program teaches basic money-management skills using workbooks sponsored by WCCU in three South County high school classrooms.

The credit union has also sponsored capital campaigns that have helped fund local schools and hospitals, and it regularly participates in the Greater Warwick Relay for Life and a local Heart Walk.

These are all ways in which the credit union exercises its belief in looking out for the interests of its local community and its people, White said. “We work hard to keep their best interests at heart,” White said. “They know we find the best way to help them improve their lives.” •

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