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May 7, 2019 Book of Lists 2018

Southbridge Credit Union

Southbridge Credit Union: “We’ve Got You!”

For eight decades Southbridge Credit Union has provided a range of financial products, services and solutions with a unique approach that involves dedication to individual members, small businesses and the local community. 

Kate Alexander, president and CEO, noted that, for the most part, financial institutions offer similar products and services to their customers. But Southbridge Credit is somewhat different. “We are competitive but we are charged with putting your money back into the community,” she said, pointing out that the credit union strives to grow membership by serving those who might be part of several different financial institutions. “We are only one piece of that relationship, but want to be their primary financial institution.”

Furthermore, Southbridge Credit Union approaches every situation with a “can-do” attitude, Alexander emphasized. “We are local decision makers and will look at any scenario. With the flutter around larger banks merging, a lot of smaller businesses are not getting the attention they did in the past,” she said. “We are able to provide solutions for any need from cash management tools to lines of credit and loans. We specialize in the smaller, underserved businesses who get lost in the shuffle.”

Involvement with the local community is another hallmark of the Southbridge Credit Union. Employees sit on several boards for community groups, such as the United Way, the YMCA, the Rotary Club and the Center of Hope. Alexander is personally tied to the community in several ways. For the past 14 years she has served on the Sturbridge School Committee, the last seven as chair. She is also passionate about education, children and athletics and can be found on the field or the court during any given season. “Youth sports is a big part of keeping kids healthy and active,” she says. “Coaching teaches me more about myself than it teaches the kids. I have to communicate with a variety of audiences and coaching first graders forces me to use good communication skills.”

Southbridge Credit Union also encourages staff to engage in volunteer activities. “We give employees time off for volunteering so they can continue to be ambassadors for the credit union and also follow their interests and passions,” Alexander says. “When we hire someone I ask what community involvement means to them. There has to be a cultural fit with any new hire. We instill that from day one.”

At the end of 2017, SCU launched a “12 days of giving” campaign during which the institution gave away $8,000 in gift cards. “It’s important to connect to community. It’s true to who we are,” Alexander says. The campaign was so well received that the credit union decided to extend the joy. “To celebrate our 80th birthday, we are doing 80 random acts of kindness. We’re at the ballpark, grocery store and in the schools, giving out free coffee, baseballs and other small gifts. This is our human side. We are rooted in community and approachable.” 

Going forward, the Southbridge Credit Union is working to create a balanced growth strategy focused on increasing deposits and loan origination at a similar pace. Efforts will concentrate on helping “high touch/labor intensive” commercial endeavors, often ignored by larger financial institutions. Alexander said, “Southbridge Credit Union wants to provide consumers and commercial members solutions and tools for all their financial needs from deposits, savings and checking accounts to small business loans and mortgages. We’re a great place to be!”

Southbridge Credit Union

Street Address: 155 Main Street, Southbridge, MA  01550                                                             

Phone Number: 508-765-5454

Website: www.southbridgecu.com

Product or Service Description: Not for profit membership-owned credit union, Southbridge Credit Union is a community financial institution, incorporated in 1938, doing business with individuals, businesses, and organizations within Worcester, Bristol, Franklin, Hampshire, Norfolk, Hampden, and Middlesex counties in Massachusetts.

Head of Company and Title: Kate Alexander - President/CEO

Year Founded: 1938