By Ray Birch
SUITLAND, Md.—What does it take to effectively run a branch that serves the military? A great deal of understanding, flexibility to adjust to servicemembers’ unpredictable lives, and even some creativity, according to one CU that’s been recognized for the service it provides.
Those factors have led Andrews FCU, which received two 2020 Distinguished Credit Union of the Year Awards—one from the United States Army and another from the U.S. Air Force—to be part of a recurring radio program that talks about the financial needs of the military and provides advice. The credit union primarily serves Joint Base Andrews.
Andrews FCU interim President and CEO Ken Orgeron emphasized the importance of military credit unions extending their reach into the communities and lives of servicemembers.
“We reach out in many ways,” Orgeron said. “One way is we are partnering with Armed Forces Network Radio to host a bi-weekly financial advice hour known as Money Magic.”
The radio show has helped many military members make sound financial decisions, but what may be helping servicemembers more, according to Orgeron, is the work the CU has done in conjunction with the Department of Defense in which it goes into military classrooms to provide financial advice and to volunteer.
“This demonstrates community involvement, helping soldiers navigate their financial journey,” Orgeron explained. “In 2020, for example, we provided financial seminars to the Joint Base Andrews Family Readiness Center as part of our community involvement. We also went virtual with additional seminars on post-retirement savings dedicated to assist our military members with military lifecycle decisions. Meetings with our financial advisors are free.”
Also Paying Off
What has been as impactful as education, added Orgeron, is the $2.2-billion credit union streamlining processes to make financial transactions more convenient for the military, whose lives can get very busy on very short notice.
“At Andrews we continue to look for ways to simplify the operations for our employees, which in return will make it a lot easier for our members to do business with us,” Orgeron said. “We streamline paperwork procedures for electronic services, we try to remove the need for repeat visits for our military members by offering to send documents via email, and we are in constant communication with our members.”
Orgeron noted that Andrews FCU leverages back-end systems that keep close track of member interactions, allowing the credit union to easily pick up where members left off the last time they visited a branch or used another channel.
“We are saving members time when they contact us the next time,” he explained. “At Andrews we want to know when was the last time a member visited us and for what service.”
The Need for Understanding
Orgeron said Andrews FCU understands the need for all of the staff within the credit union to have a deep understanding of the military to best serve the membership.
“Having an understanding of how military and civilian services function, what their needs and requirements are, and that putting them on a path to financial success is critical,” explained Orgeron. “It means going to where they are, working around their schedules, and ensuring that you continue to build an excellent partnership with the military command and community partners.”
Orgeron noted that Andrews staff typically come from different military backgrounds, including veterans and military and Department of Defense spouses.
“We all understand the military lifestyle because we have been there ourselves,” Orgeron said. “Similar to the way they protect our country, we protect them with products that is tailored to their needs.”
Staff regularly go out into the military community, at local events, and visit base garrisons.
“Ensuring that all branch employees have visibility throughout the community is vital and shows commitment from the credit union,” said Orgeron. “An effective credit union branch that supports our military members, civilians, and their family members must be understanding of the community they serve and their financial needs.”
‘Listen Carefully’
Orgeron added AFCU hires and trains staff to be flexible, empathetic, diverse, member centric and community focused.
“Our branches invest the time to listen to the financial needs of our military members and with experience, suggest products and services that will assist in meeting their financial aspirations,” he said. “The most important advice we can give other military credit unions is to listen carefully to the military members and take time to research inquiries for the best possible solutions.”