Francois Verleysen is out to dispel a common misconception about credit unions in general, and Signal Financial Federal Credit Union in particular.
You don’t have to belong to a union or work for the government or any other large organization to become a member.
“There’s a common misunderstanding that our credit union is only for people who work for certain companies or institutions,” says Verleysen, president and chief executive officer of Signal Financial. “That is simply not the case.”In fact, with six locations in the District of Columbia, Maryland and Northern Virginia – all of them open to the public – Signal Financial is for virtually anyone seeking a better financial alternative and to improve the quality of their financial life.
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“We are just as open as any other financial institution,”says Said Halim, vice president of real estate and consumer lending.
Chartered in 1947 as the Washington Telephone Federal Credit Union, Signal Financial serves members of all ages and from all walks of life. What most members share in common, as revealed by a membership survey, is a desire for relationship-based banking.
“When life moments happen, when they need a loan, a savings or a checking account, or any other banking product or service, we’re here to help our members,” Verleysen says. “We’re here to support their financial empowerment, every step of the way.”
Members save money, through higher returns on their savings and investment accounts, and lower interest rates on their loans, with three financial bundles: Signal Connect, Signal Direct and Signal Premium.
“We basically took all of our products and placed them into these bundles,” Verleysen explains. He likens this approach to the way telecom customers can save money if they purchase internet, cable and phone services from the same company.
Members’ Financial Well-being Comes First
What does the future hold for Signal Financial? Growth, growth and more growth. According to Halim, the organization is exploring various options to expand its footprint and enhance its services. It recently opened a new branch at One Loudoun in Ashburn, Va. and is looking to open additional offices in locations that are convenient for its members. And soon, a new mobile branch will take banking services to college campuses, community events and other locations throughout the region.
At the same time, Signal Financial is looking to merge with other area credit unions as part of ongoing efforts to help members benefit from economies of scale.
“Our members count on us to help them save money and look out for their best interests,” Halim says. “As a result, we strive to get them the best home loan or car loan for their needs. We provide customized support and solutions for each and every member who comes through our doors about to embark on a major life milestone, like borrowing to buy their first house, or taking out a home equity line of credit to renovate their existing home for a growing family. Because we are a nonprofit, member-owned lending institution we stand to gain nothing by granting loans that could someday be a financial hardship to our members.”
“For us,” Verleysen adds, “it’s not about the sale. We take a true, needs-based approach to our members’ financial well-being. At Signal Financial, our vision is to be our members’ lifelong primary financial partner. We are continuously working to better ourselves for the betterment of our members.”
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
