SESLOC Federal Credit Union has won top recognition from the Credit Union National Association (CUNA), the industry’s trade organization and advocacy group in their asset category ($275 million to $1 billion) for providing the largest annual financial return to their membership, equating to a member benefit of approximately $20 million annually.
In earning CUNA’s Benefits of Membership Award, SESLOC ranks among the nation’s best in delivering exemplary value to its members. To be recognized, credit unions submit their rates, fees and account yields; earnings and returns to members are then evaluated compared to competing banks to determine average savings to members.
The CUNA judges found that SESLOC, through its lower loan interest rates, above-average deposit yields, and reduced fees compared to banks, provided $397 in direct financial benefits per member household in 2017. SESLOC serves 50,000 member households in San Luis Obispo and Northern Santa Barbara counties.
“Our goal each day is to provide value to our members through well priced financial services,” SESLOC President/CEO Geri LaChance. “Adding close to $400 per year into a family budget has a significant positive impact for each of our families."
In addition to receiving this member value award, SESLOC received two separate recognitions in the past two months for its employee-focused culture. CEO LaChance firmly believes that employees who enjoy their work extend that satisfaction into more friendly and attentive service. “The personal service these engaged employees provide each day is a bonus dividend on top of the financial savings members receive for being a part of the credit union,” stated LaChance.