Katie Bowling and Lisa Reynolds with LGE Community Credit Union

Intro: Broadcasting live from the Business RadioX Studios in Sandy Springs, Georgia. It’s time for Sandy Springs Business Radio. Now here’s your host.

Lee Kantor: Lee Kantor here another episode of Sandy Springs Business Radio. And this is going to be a good one. Today on the show we have Lisa Reynolds and Katie Bowling with Large Community Credit Union. Welcome.

Katie Bowling: Hello. Thank you for having us.

Lee Kantor: I am so excited to learn what you’re up to. Tell us a little bit about LG Community Credit Union, how you serving folks.

Lisa Reynolds: We’re serving our community and anyone who live and work in the area, our service areas of our branches and financial centers.

Lee Kantor: So can you share a little bit the difference between a community credit union, a credit union, a bank Like how do they all kind of fit into the world?

Katie Bowling: Yeah. So the difference between a credit union and a bank is that we’re for non profit. So that means the money that we make, that we bring in for profit, we have to give back to our members. And we do that by having better rates, lower fees, less fees really. And it’s just more of a community feel when you come in, you get that personalized service where we want to hear what you have to say and give you the individualized product or service that will match your needs.

Lee Kantor: Now, you say member, is that what a traditional bank would call a client? Like are you using member in a way that another organization would call it a client? That’s by design, right? That’s not an accident.

Katie Bowling: Yes, that’s correct. We when you open an account, you’re joining large community credit union, so we call you a member. And so you now are part of the credit union success.

Lee Kantor: And then in a lot of organizations, membership has benefits. So there are some benefits from being a member of LG.

Katie Bowling: Yes, definitely. For I mean, the biggest thing is our interest rates. We have absolutely the best interest rates for our checking account. We have a 4% checking account. It’s hard to find right now. A lot of times when you get a higher interest rate like that, you have to lock in your money. Whereas this you don’t have to have a minimum balance 4% on your daily average balance. But it’s things like that. Also, auto loans, mortgages across the board, we’re going to have better rates.

Lee Kantor: And then for a person choosing to go the community credit union route rather than a bank, what about like kind of apps and online experience and access to make deposits, things like that where I don’t want to necessarily go into a branch? Do I still get some of those benefits as well?

Katie Bowling: Oh, definitely, yes. We have online banking. We offer the snap deposit. It’s fully set to do any type of banking that you can do with any other financial institution.

Lee Kantor: So what’s your backstory? Where have you all always been involved in banking your whole career? Is it something that you’ve always been working on?

Lisa Reynolds: I have. I’ve worked for the other big banks, so now it’s better to work for a credit union. The credit union treats their members number one and they treat their employees number one. So I feel like I’m in the right place. I love it.

Lee Kantor: I called those banks like the stadium banks, the ones that they have enough money, they can put their name on, things like that instead of just kind of filtering it back to the people that are kind of paying their salaries.

Lisa Reynolds: Right, Right. I worked for some of the stadium banks, so now I’m in a better place.

Lee Kantor: So now for you, having had that experience, what what do you see the difference and where you’re making the most impact when you’re dealing with your customers today?

Lisa Reynolds: I like to, like Katie said, being more personable with our members and giving them that service. We have the time to help them and meet their financial needs.

Lee Kantor: Now, is it something because I have had money at some of these larger stadium banks in the past and it seems that every time you go in there it’s a new person. Like they don’t like. I’m just like a name on a spreadsheet, right? And so if you’re in a community credit union bank, it feels like it would be different. Like you’re going to kind of remember who I am and you’re going to wave to me and know, you know who my kids are or my dog.

Lisa Reynolds: Absolutely. We have people that come in, that’s their grandmother was worked at Lockheed and their grandfathers. And the kids come in, their grandkids come in. So we get to know our members very well that way.

Lee Kantor: Now, the types of you mentioned interest rates, is it something that this is only for consumers or is it business folks, too? Like, can a business bring their business account there and then maybe offer this, you know, some advantage like some of the larger corporations do with partnerships with larger banks?

Katie Bowling: Yes, absolutely. We do commercial lending and commercial accounts. We are we don’t really look for some of the the commercial accounts like that bring in that need a lot of cash on hand like your fast food restaurants, gas stations. Those are a little more difficult for us to handle all the cash flow that comes through. But definitely we like to help those non profit organizations. We have a great non profit account. If you’re a non profit charity, there’s no fees, no minimum balance. You come in, you do your business because we want to help with us being a non profit. We want to help those that are non profits.

Lee Kantor: As well. Wow. So that’s a niche that you guys have carved out in the marketplace is really serving the nonprofits.

Katie Bowling: Yes.

Lee Kantor: And then regarding the businesses that aren’t, you know, kind of cash heavy like that, are is there niches in that area as well?

Katie Bowling: Yes, We’re actually working a little closer in that direction because we recently acquired Greater Community Bank and they’re more over on the north side of Gordon and Bartow, and they were very heavy with commercial banking. So we’re hoping with this acquisition, this is going to help, you know, broaden our game into the commercial lending and commercial accounts.

Lee Kantor: So now a typical customer that comes to you, are they just frustrated with their experience in the bank? Is that usually how they kind of how you get on their radar? Like how do you get how do you acquire like a new customer? What’s the path they usually get to get to you?

Katie Bowling: Well, there’s different ways. We do, of course, get those the the people come in and they’re frustrated with maybe fraud or they got a fee, whatever the case may be, and we’ll get them that way. But a big way where we’ve been really working diligently is going out into the community and developing relationships with other businesses. So we like to go in and do financial aid excuse me, financial literacy classes and be able to speak to other employees and see what they’re looking for, answer their questions about their financial needs, have someone that they know they can call on personally and be like, Hey, I got this question about a mortgage, or do you think I can get a better rate for this car loan? So that’s been a big part of our our really it’s I don’t know what to call it. It’s just kind of like we’re really trying to become more community based where we really feel like people expect to see large, they want to see LG and they know they’re going to get the service that they deserve through us.

Lee Kantor: So you want to be more visible in the communities that you serve by letting people know that you’re there to offer education and just help in any regards to their finances or their banking.

Katie Bowling: Definitely. And we can even go into their business and open accounts. So like we’ll do something. If, for example, we had a little crumble cookie open right next to one of our financial institutions and a lot of them were young coming in and the new employees there. So we set up accounts for those who didn’t already have accounts for them so they can go ahead and get their direct deposit set up. And, you know, they’ll be ready because a lot of times, you know, the young kids don’t have accounts, right? They get the card right. Yeah. So it was we like to be a part of those type of things because we it just shows that we actually care about what’s going on in their lives and want to be there throughout each financial need they have now.

Lee Kantor: You’re in the Sandy Springs studio for a reason. Sandy Springs branch, I guess, just opened recently.

Lisa Reynolds: Yes, we just opened. We’ve been open a month now.

Lee Kantor: So let’s talk about that. Launching a branch into an area, has that been had you ever done that before, come into a new area?

Lisa Reynolds: I have not. My first, but it’s the best area, though. I like Sandy Springs. It was voted number one in the cities of Georgia. We’ve been voted number one for Forbes best in state. So, you know, we’re a good match, right? We married the two and we love it. I love the community. The community has embraced us very well. They’re very, very welcoming to us. So we’ve got a lot of people come in and say they’re happy that we’re in Sandy Springs, a part of the Sandy Springs community.

Lee Kantor: So now when you enter a community like this, I’m sure some of the existing clients, you know, maybe some of them live around here and you can kind of peel some of them off and make it more convenient for them. But for a lot of folks, this will be new, right? This is the first time hearing about the brand and knowing that it exists. So are you going out, like Katie said, and doing all that, kissing babies and shaking hands.

Lisa Reynolds: And shaking hands, kissing babies, going to the merchants around in the neighborhood? I’ve gone around in the merchants and let them know that we’re coming and then we’re open to let them know we’re here and let them know we have a grand opening coming up. Katie and I are business partners, so we go out to the Sandy Springs Chamber Perimeter Chamber meetings and meet the new owners, new people and faces. So we’ll let them know that we’re here. And please come by and see us. We’re going to open up accounts.

Lee Kantor: So now if somebody is interested in having that kind of initial conversation, do they have to bring stuff? Is there a homework they have to do before having that conversation with you? Or is it can they just come in and start chatting with you?

Lisa Reynolds: They can just come in and start chatting with us. We’re I have a staff that’s there that’s right now there to help. They can come by any time. We can answer any questions, open up accounts whether right there.

Lee Kantor: Now part of the LG Community Credit Union is a foundation outreach foundation. Can you talk a little bit about how that came about and the or is this just part of the DNA of LG that this is this kind of community service and outreach is just part of how you guys. Go about doing business?

Katie Bowling: Yeah. So in 2010, we decided that we wanted to start doing a golf tournament, do different events to raise money for charities that were charities that were within our footprint. And so we’ve raised about $2 million over since 2010. And what we do is we have a casino night, we have our golf tournament, And I feel like I’m missing one other event. But then also we have where our team goes out to these different charities that we will give the proceeds to and we’ll do different work that they need, like if they need painting done or if they need a deck fixed or whatever the case may be, or if they just want us to work with children or whatever they need, whatever they’re looking for, they’ll give us a list of things to do. We’ll send out ten employees and we’ll the employees will send them out. They actually volunteer and so they’re putting in a lot of hours on days that they aren’t supposed to be working and go out there and help out these other nonprofits. And that’s just been like something that really has brought the credit union together, like the employees, they love that time spending, seeing that they’re making a difference not only with someone financially but also personally.

Lee Kantor: And that’s one of those things where the people that you probably attract as employees are people who have that same heart that you all have. That is part of the heart of the organization that you’re all about serving the community, and that is your true north. And it’s easier to make decisions when that’s the case, right? It’s easier to decide we’re going to do work like this because it matters.

Speaker5: Absolutely.

Lee Kantor: So now tell us about the branch. So is this a brand new branch or do you take over something that was already there? What is the brand?

Lisa Reynolds: This is a brand new branch. I was there when they were putting in the the lights and the letters and all the you got to.

Lee Kantor: Tell them where you wanted things.

Lisa Reynolds: I enjoyed it. I enjoyed it a lot. It’s a great experience and it’s a beautiful branch. It’s more like a cafe, like Katie said before, you know, it’s really pretty. It’s very welcoming. And we have live plants in there and everybody can come in like a cafe and use online banking talk. Bankers will help them with loans to open accounts, to mortgage or whatever they need. We’re full service.

Lee Kantor: Now. Is that do people still go into the bank like. Absolutely. So that’s still an important component of of having a credit union. A community credit union is having a facility where people can physically go and meet face to face with the the people that are, you know, in charge.

Lisa Reynolds: I think it’s one of the things that a lot of our members and new people like is that we we’re open and we remained open through Covid. So we made it through there. And a lot of people coming in, they have more questions about why. Lg You know, thank you for being in our community. I’ve heard about you. So yes, we love being there. And the and the members and new members like it.

Lee Kantor: So now you mentioned a grand opening. Is this going to be a big party? Like what’s what do you do to celebrate an opening of a bank? It seems like it’s open a little bit now.

Speaker5: Yeah, it is.

Katie Bowling: Yeah. So we have already been open for a while and you, you know, you want to take a little time to make sure everything’s properly working and stuff. And then we have our grand opening this Wednesday, August 30th. It’s at 3:00, and we put together gift baskets full of gift cards and other little treats in there and with a value of $1,300. So they’re great prizes to win. And just anyone who comes to our grand opening put their name in a hat. We’ll pull it out and see who wins all the gift cards and special treats we have for them. But and we do a ribbon cutting with the chamber. It’s just a way to say, hey, we’re here, we’re part of the community. We’d like for you to celebrate with us. But another thing that we’re doing and that we’ve been doing with our grand openings is we find a charity that we know is important to the community, and we will present a check to them during the grand opening. So we’re doing a check for the Sandy Springs Police Benevolent Fund. So they’ll their board is coming out. We’re presenting a check to them, just part of our celebration and to thank them for what they do because obviously it’s a lot going on that they have to take care of as well.

Lee Kantor: Now, before you all coming here, I went on your website a little bit and I see that you also have events throughout the year, like there’s a shredding event that’s a is that something that has been going on for a while, like a way to help all the folks that have been accumulating all this paper? Yes. Finally get rid of some of this.

Katie Bowling: And it’s free. Yes, it is huge. I have worked several shred events and the amount of paper that goes through is unbelievable. And we go through trucks of paper shredding. It’s it’s I mean, they love it because, like you said, you accumulate all these bank statements.

Speaker5: Tax papers and.

Lee Kantor: You just have these boxes that you just keep stacking up and you’re like, Let me. This is like from 20 years ago. How long do I have to keep this stuff?

Katie Bowling: Exactly. Yes. So they will bring all their boxes. They will come back through a second, third time. And we’re fine because we want to stay busy the whole time we’re out there. But yeah, it’s been a definitely a very popular event that we have.

Lee Kantor: And then how much does it cost for somebody if they want to dump some?

Speaker5: Oh, nothing.

Katie Bowling: It’s free.

Lee Kantor: That’s just a free thing that you all do. Yes, man. So it is really all about just giving back to the community and really serving the folks and the way that they need to be served.

Speaker5: That’s right.

Lee Kantor: So now if somebody wants to learn more, have a more substantive conversation with somebody on the Sandy Springs team or somebody who just wants information about LG Community Credit Union, what’s the best way to do something like that?

Katie Bowling: I would say come into a branch. I mean, you can go online. We have a lot of information about LG, but the best way is coming to an office, sit down and talk with someone. You’re going to get the information you need without having to search a website. You have everything right there in front of you. So I would say come into our Sandy Springs office. We’re at the Abernathy Square Plaza, right behind one of the Hardee’s, and the city barbecue.

Speaker5: Is, Oh.

Lee Kantor: That’s where you’re at? Yep. There’s Publix over there as well.

Speaker5: Yes.

Lee Kantor: And and then you mentioned that there’s regular non business, but also business accounts. Is there anything from that standpoint that a person has to know to have a business conversation with you or the same thing just come in.

Speaker5: And yeah.

Lisa Reynolds: It’s best to come in because that way we get more information about what kind of business you have, what kind of application we need, what documentation we need as well. So we have a lot of people that stop by and ask that question. I want to open a business account. Can you tell me more about it so we can.

Lee Kantor: Service them now if they are switching from another bank, do you help them do that or is it like, how does that kind of the switching? Is there a paint? You know, sometimes people are afraid for change because of the, you know, just the I feel funny talking to the person to get rid of that other account. Like, do you help them with that? Like how does that kind of work?

Lisa Reynolds: Sure. If they have any questions. If we you know, they are transitioning from a traditional bank to our credit union, we help them with that.

Speaker5: Yes.

Katie Bowling: We also find ways for the biggest thing I always hear, I was a branch manager at our Woodstock location a year ago. And so same thing that was the biggest thing you’d hear is, oh my goodness, how am I going to switch all this online banking like my bills are automatically coming out. And so we will sit there and walk them through that process and take them. It’s like the best thing you do. Go through your statements, see what’s coming out automatically. We’ll go through all that with them. We’ll help them get set up. On LG’s online banking. Do Bill pay the whole process? We will help them through that.

Lee Kantor: And that’s so important because it’s like you said, that that seems like a little thing. But in the mind of that person, that’s the biggest thing. They don’t. They know what a hassle it was to get that situated, but to have a human being sit next to me and go line by line down a statement that gives me a lot of comfort and security that I know that I’m being taken care of and I know I’m not going to screw something up inadvertently just by making this change.

Katie Bowling: Absolutely.

Speaker5: And while they’re.

Lisa Reynolds: Making a change, we can help them go ahead and open up accounts with us and they can transition over transfer money.

Lee Kantor: So it doesn’t have to be like you’re flipping the switch. It can be more gradual than that.

Lisa Reynolds: Exactly. And they can transfer Zelle. We help. We’ve already helped members come in and say, I want to switch my Zelle from this account to your account so we can help them with that.

Lee Kantor: Yeah. And you add that human touch that makes all the difference, right?

Lisa Reynolds: With their online banking, everything they need we take care of right now.

Lee Kantor: I think in today’s world, I think people are hungry for that human interaction that, you know, there was a time where everything offline, I don’t want to talk to anybody. I don’t want to deal with anything. But now I think people are returning back to that human to human connection.

Katie Bowling: Yes, I.

Speaker5: Agree.

Lisa Reynolds: I go out with your customers, too. So when I go out and I’m standing there, I’m like, there’s no one talking. How come one saying hi? There’s no one trying to It’s like.

Speaker5: They’re almost ignoring you on purpose. Yeah, I’m like.

Lisa Reynolds: I count to ten. But yes, we don’t do that. We’ll greet you in the door, ask you what brings you in and we’ll take care of you.

Lee Kantor: And then one more time, the website. If somebody wants to learn more.

Katie Bowling: It’s w-w-w dot org e cq.org.

Lee Kantor: Well, Lisa, Katie, thank you so much for sharing your story today. You’re doing such important work and we appreciate you.

Lisa Reynolds: Thank you. Thank you for having us.

Speaker5: Yes, I enjoyed it.

Lee Kantor: All right. This is Lee Kantor. We’ll see you all next time on Sandy Springs Business Radio.