Press

NET is investing in the member’s future

SCRANTON, PA (August 24, 2015) — NET Credit Union is the second largest credit union in Lackawanna County proudly serving nearly 18,000 members from 2 locations in Northeastern Pennsylvania. NET believes in its community and educating their members about their personal finances. A powerful reputation has been built over the past 70 years and it’s the perfect time to take it to the next generation.

Larry Bordi, after 42 years of commitment to NET, will retire as CEO, effective September 4^th, 2015. With much humility, he’ll tell you “I labored for the employees, was directed by the board and worked every day to ensure our members were the happiest.” His dream was for NET to be a place where people felt they belonged, like a family. Although Larry will miss this family, he is looking forward to golfing and spending time with his wife, Rose.

Clarence Baltrusaitis is the chosen successor, because of his similar family focus. Larry is confident with this decision because he knows Clarence can carry NET into the next generation, “He has the knowledge and expertise to implement new technologies and evolve to offer our members what they deserve.” That’s exactly Clarence’s plan: “We already have great employees, members, directors, numbers, capital and locations. There’s enormous potential here, we just need to focus on serving our members – onboarding more technology for service and efficiency – and everything else will fall into place.”

Clarence believes in the credit union approach of people helping people: “By taking that approach everything else falls in line. We will be successful just by being focused on helping one member at a time, and keeping our credit union simple, straightforward, and strategic.” On the field as a coach, Clarence will tell the players at bat to focus on small goals, “I’ll take 20 singles in a game rather than 1 home run. Getting on base is most important…for us [NET] getting on base is helping one member at a time. Hopefully, that satisfied member will tell another, and so on…” Along with that mindset, Clarence brings his accounting degree, a naval background, an early career foundation from an international consumer goods company, and roughly 15 years of experience in the financial industry to NET. All can feel comfortable with Clarence steering the ship.

Larry and Clarence had the past 2 years to collaborate. Larry taught him to lead with a fatherly approach; Clarence recalls Larry’s advice, “Be supportive but don’t make it too complex – keep it simple.” This is principal because Larry will tell you his success was contingent on his “fatherly influences” from the board of directors to his own father, a former credit union CEO.

Future expansion of NET will be seen in downtown Scranton, summer 2016. A new location at 119 Mulberry Street will have much to offer members and the community, including a more accommodating drive-thru. NET is very excited about offering our members newer, safer location, while contributing to the renaissance of improvement in Scranton.

Employees of NET are member centric, making personal finances easy to understand. Most recently, we have invested in considerable training to our employees – enabling our staff to be “credit score specialists”. They are now able to help members understand and manage the most important number in their portfolio – their credit score.

Lastly, Clarence cautions, “We don’t want to fall behind, we want to stay current.” New technology will be a high priority with an upgrade to the online banking, improved call center, and introduction of a mobile app in the near future.

With plans in 2016 to expand into a new building, newer technology, and a new logo on the horizon, there will be many changes; but one thing will remain the same – NET, at its core, only wants the best for its members and that’s the focus that’s driving decisions.

About NET Credit Union

A Credit Union is a place to do your banking. NET is a not-for-profit financial institution, and we operate like a bank except we don’t issue stock on Wall St. Since we don’t have to pay stockholders, we use our income to provide lower loan rates, higher deposit rates, reinvest in our community, give to charities (#netcares), and keep our fees low. Members can See Banking Clearly at NET Credit Union. There’s so much more you get when you bank on NET.