Fast Facts About Seattle Metropolitan Credit Union

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Fast Facts About Seattle Metropolitan Credit Union
Fast Facts About Seattle Metropolitan Credit Union
Seattle Metropolitan Credit Union (SMCU) is a not-for-profit financial cooperative that
returns profit to members in the form of lower loan rates, higher savings rates, and low
fees. Anyone who lives or works in the state of Washington can join.
Founded
1933
Number of Employees
141
Number of Members
43,971
Total Assets
$595,299,353
Charter Number
68315
Membership Charter
Serving all residents in the state of Washington
Branch Locations
SMCU operates seven branch locations in the Seattle area. Through the Co-op Network,
SMCU members have access to more than 5,000 shared branches and CU Service
Centers, plus nearly 30,000 surcharge-free ATMs around the world.
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Beacon Hill: 1604 S. Roberto Maestas Festival St, Seattle, WA 98144
Downtown Seattle: 722 3rd Ave, Seattle, WA 98104
Georgetown: 500 S Michigan St, Seattle, WA 98108
Kirkland: 365 Kirkland Ave, Kirkland, WA 98033
Lynnwood: 3925 196th SW, Ste C, Lynnwood, WA 98036
Northgate: 303 NE Thornton Pl, Seattle, WA 98125
Rainier Avenue: 3621 33rd Ave S, Ste C-1, Seattle, WA 98144
Southcenter: 17250 Southcenter Parkway, Ste 132, Tukwila, WA 98188
For directions, hours, and headquarters location visit: smcu.com/locations.
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Products and Services
SMCU offers a full range of financial products and services, including loans, investments,
credit cards, and checking.
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Accounts & Services: smcu.com/checking-and-savings.html
Loans & Visa: smcu.com/loans-and-credit-cards.html
Mortgage Center: smcu.com/mortgage-center.html
Investment Services: smcu.com/investments-and-retirement.html
Education & Resources: smcu.com/membership-and-benefits.html
How SMCU is Different from Banks
A cooperative is an independent group of people who come together to address a common
need through a jointly-owned and democratically-controlled enterprise. Members of the
co-op own and control the business together with one vote per member, unlike companies
run by stockholders who can increase the weight of their vote relative to the number of
shares they own. It is this co-operative autonomy and local control that has kept Seattle
Metropolitan Credit Union sound and secure in good times and bad.
Seven Co-operative Principles
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Inclusiveness: Membership should be open to all
Voice: Members should call the shots
Member Participation: Leads to better rates, fees and services
Independence: Autonomy and independence set us apart
Financial Education: Should be free and available to all
Cooperation: Cooperation among cooperatives is vital
Community: Giving back to the community is an obligation
Governance
Nine members are elected to the SMCU Board of Directors to serve three-year terms.
Directors are responsible for the operation of the credit union to insure up-to-date products
and services are provided for the membership with the utmost financial integrity.
Community Partners
Seattle Humane, The Vera Project, The Seattle Public Library Foundation, Seattle Tilth,
Childhaven, Bike Works, Northwest Harvest.
Contact Information
Main Phone: (206) 398-5500 or (800) 334-2489
Website: smcu.com
Social Media
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Facebook: facebook.com/SeattleMetropolitan
Twitter: twitter.com/seattlemetcu
YouTube: youtube.com/smcu
Pinterest: pinterest.com/smcu
Yelp: yelp.com/biz/seattle-metropolitan-credit-union-seattle-3
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Overview and History
Beginning as a fledging financial institution during the Great Depression with no employees
and a mere $35 in assets, Seattle Metropolitan Credit Union (SMCU) has evolved into a
full-service, safe and sound institution with a complete full-time staff and more than $595
million in assets.
Since 1933, SMCU has operated by the 7 Cooperative Principles to provide financial
services to the employees and family members of the City of Seattle. Since then, SMCU
expanded its charter to include anyone who lives or works in the state of Washington.
SMCU is a not-for-profit financial cooperative. When individuals become members of a
credit union, they become equal shareholders, each with one vote to elect their volunteer
Board of Directors and Supervisory Committee. These volunteers oversee a professional
management team and overall credit union operations.
SMCU’s existence reflects its members’ combined interests to continue operation for the
benefit of the general membership in the local communities it serves. SMCU provides a
full spectrum of financial products and services, returning profit to members in the form of
lower loan rates and higher savings rates, low fees, and innovative products and services.
This direct financial value is given back to members instead of being paid to a limited
number of stockholders, officers, or out-of-state owners as many banks do.
SMCU is federally insured by the NCUA and is an Equal Opportunity Lender.
Timeline
• October 1933: Founded as City Credit Union with just seven charter members
and $35 in assets. The credit union was formed to support fellow City of Seattle
employees as a dependable, affordable source of financial assistance during the
Great Depression.
• 1939: City Credit Union honored the full cash value of warrants paid to City
employees when, under a depressed city economy, the warrants were redeemable
at only 25 cents on the dollar.
• 1945: A.G. “Tony” Marino became City Credit Union’s first full-time manager
and began to chronicle the credit union’s progress in the Public Service Journal
newspaper column he wrote, called “Credit Union Forum.”
• 1967: SMCU opened its first branch.
• 1985: SMCU opened its second branch. Select Employer Groups (SEGs) began
joining the credit union.
• 1987: SMCU surpassed the $100 million mark in total asset size, placing it in a size
category that is larger than 90 percent of America’s credit unions.
• July 1989: A full service South Branch was added. Radiating from the hub of the
downtown office, SMCU was better able to serve its growing membership in both
north and south Seattle.
• August 1992: Bob Harvey became SMCU’s third CEO.
• 1995: SMCU opened a fourth branch in Rose Hill to serve members living on the
Eastside.
• 1997: To reflect its growing field of membership, City Credit Union changed its
name, becoming Seattle Metropolitan Credit Union.
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• 2004: SMCU opens a branch on Rainier Avenue.
• October 2011: SMCU began offering Autoland, the easy-to-use auto-buying
service designed especially for credit union members.
• February 2012: Richard Romero because SMCU’s fourth CEO in its 80-year
history.
• June 1, 2012: SMCU’s new Downtown Kirkland Branch holds grand opening.
• September 23, 2013: SMCU relocates Northgate Branch to Thornton Place
complex near Northgate Mall.
• January 2014: SMCU highlighted its knowledgeable team of home loan experts
and full suite of mortgage products and services with the grand re-opening of its
former Home Loan Center as the new SMCU Mortgage Center.
Media Contact:
Jill Vicente, Chief Strategy Officer
Phone: 206-398-5571 or 800-334-2489 x571
Email: [email protected]
For more information, visit the SMCU Press Room: smcu.com/press-room.
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Executive Leadership Team
Richard Romero, President and Chief Executive Officer
Richard Romero brings more than 26 years of financial services experience, including 14
years in credit unions, to Seattle Metropolitan Credit Union. His expertise lies in leadership
developed over his extensive history in retail banking, lending, and member service. He also
has a strong belief in the cooperative model.
As President and CEO, Romero is responsible for all facets of the progressive credit union
and strategic leadership in providing affordable, fair, and competitive services. Since joining
SMCU in 2012, he has succeeded in raising SMCU’s net worth by more than one percent
and increasing income to exceed industry averages in 2013.
Previously, Romero was Chief Operations Officer at the $820M Los Angeles Firemen’s
Credit Union (LAFCU) for eight years. There, he led teams responsible for consumer
lending, member services, operations, call center, facilities, real estate and business
services, commercial lending, and information technology.
Romero began his career in the financial services industry in 1988 as a part-time teller at
Great Western Bank, where he built a strong customer service foundation. He worked his
way through most branch positions before earning a promotion to oversee the operations
of 45 branches in Southern and Central California. After a merger, he spent more than two
years as a project manager on projects ranging from Y2K for a small bank to customer
service projects for Washington Mutual Bank.
In 2000, Romero transitioned to the credit union world as Director of Branches at Telesis
Community Credit Union. Two years later, he took over the role of Vice President, where he
oversaw consumer lending, call center operations, the branch network, and small business
lending.
Romero holds a bachelor’s degree in Organizational Management from the University of La
Verne in La Verne, Calif. He is a member of the YearUp Puget Sound Leadership Council,
where he is a guest speaker and mentor to young adults. He also serves on the Northwest
Credit Union Association’s Washington Government Affairs Committee.
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Jill Vicente, Senior Vice President and Chief Strategy Officer
As Seattle Metropolitan Credit Union’s Chief Strategy Officer, Jill Vicente is responsible for
driving and influencing decision making that will result in the creation and implementation
of strategic initiatives throughout the credit union. Additionally, she provides executive
oversight of most member-facing departments including Retail Sales, Investment Services,
Business Development, Marketing, and Online Delivery.
Prior to her current position, Vicente served as Chief Marketing and Sales Officer at SMCU
for more than 11 years. Her love for credit unions began in 1992 when she relocated to
Seattle from Honolulu and began working for Alaska USA FCU as a Branch Operations
Officer. Vicente has a total of more than 20 years of professional experience in various
fields, including entertainment, radio, retail, non-profits, and finance.
Vicente is a respected resource within the credit union industry and frequently speaks on
branding, social media, and customer experience at conferences around the country. She
has a bachelor’s degree in Marketing and an MBA from the University of Washington.
Tonita Webb, Senior Vice President and Chief Administration Officer
As the Chief Administrative Officer, Tonita Webb is responsible for the administrative
management of Seattle Metropolitan Credit Union, where her leadership has transitioned
the organization’s culture and upgraded its human resource processes to provide a high
performing environment. She provides executive direction over contracts, administration,
compliance/risk management, human resources, training, back office operations
(e-services, card services, and record retention), call center, consumer lending, mortgage
lending, and facility management.
Webb brings more than 23 years of experience to SMCU with primary expertise in human
resource management. Prior to joining SMCU, she was a Human Resources Consultant
with KBIJ & Associates and HR manager for Fraser Boiler, both in Seattle. Previously, she
served as a Human Resource Personnel Officer at the Florida Department of Health and
Security Forces Specialist for the U.S. Air Force.
Webb earned a bachelor’s degree in Human Resource Management from Saint Leo
University in Saint Leo, Florida and an MBA with emphasis in Human Resource
Management from Walden University in Minneapolis, Minnesota. She is a member of the
Society of Human Resource Management, serves on the Board of Directors for the African
American Credit Union Coalition as Board Secretary, serves on the Board of Directors for
Southeast Effective Development (S.E.E.D.) Seattle), volunteers on the Highline School
District Capital Facilities Advisory Committee, and volunteered as Board of Director’s
President for the Lupus Foundation of America/Pacific Northwest Chapter for five years.
Her certifications include Senior Human Resources Professional and Certified Chief
Executive (CCE) by the Credit Union Executive Society (CUES).
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Jason Elliott, Senior Vice President and Chief Financial Officer
Jason Elliott has served as Seattle Metropolitan’s Credit Union Chief Financial Officer since
2014. In this role he provides financial leadership, oversees the management of the credit
union’s financials, and helps develop and execute the organization’s strategic initiatives.
Since 2003, Mr. Elliott has had the opportunity to serve members at various credit unions
in Western Washington. His experience covers many disciplines, including business
intelligence; organizational data management and governance; risk management; asset/
liability management; product and organizational profitability; investment and portfolio
management, analysis and strategy development; and project management. In addition, he
effectively and accurately reports past and current fiscal condition, as well as forecasts and
analyzes the long term financial picture for the credit union.
Mr. Elliott holds a bachelor’s degree in Finance & Economics as well as a Master of
Business Administration from St. Martin’s College. He is co-chair of the CU4Kids
Advisory Group for the Seattle Children’s Hospital, helps raise funds for several non-profit
organizations, and serves as a Supervisory Committee Member for another credit union.
Media Contact:
Jill Vicente, Chief Strategy Officer
Phone: 206-398-5571 or 800-334-2489 x571
Email: [email protected]
For more information, visit the SMCU Press Room: smcu.com/press-room.
SMCU PK (04/16)
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