she did not want to ….
she did not want to change. “When people live and work in a community, you’ve got that support system,” she stated. “I’d hate to ever see that go away,” Woods concluded the question by speaking about her hopes to keep Taylor Credit Union as a good asset to the community.
Woods was then asked about how banking has changed in the past 10 years. “We see fewer people actually coming into our buildings then we did probably even five years ago, but for sure 10 years ago,” was her response. She continued to say, “It doesn’t mean that the business is getting any less, it’s just people are choosing different ways to do their business.” Woods said that the cause of this is the increase in online banking and direct deposit. She also commented that she does not want to see the day when “people don’t need people.” Though technology and business will be forever changing, it is important to maintain some face-toface interaction.
“The credit union I still see as a growing and thriving financial, providing the same excellent service to the community that we are today,” was Wood’s response to where she sees the company in 10 more years. She hopes that the credit union can continue to expand, but mainly that they maintain the level of service that they have been providing for so long.
Medford’s AbbyBank was also a subject of Progress 2020 as executive vice president Jenny Jakel spoke about the last 10 years.
“Technology is the biggest change, it’s moving at exponential rates,” said Jakel when asked what has changed in the last 10 years.
She continued on to mention that it is important to the bank to give their customers what they want, so keeping up with technology is very important to AbbyBank.
Jakel also spoke about the constant change of regulations.
“It is very important that we stay on top of that so that we’re meeting all the requirements that the federal government expects of us,” said Jakel.
Over the last 10 years AbbyBank has opened and renovated a branch in Medford, and acquired another in Appleton.
When asked what it is about AbbyBank that makes her proud, Jakel spoke about renovations on the Medford branch and the bank’s incredible staff.
“We put major renovation into the interior of this building,” said Jakel.
She went on to mention the community room within the building that is open for non-profits and other businesses to use.
When asked why people should take their business to AbbyBank, Jakel responded, “I’ve worked at this bank for 43 years and I can say that in all of those years, it’s the people, it’s the personal contact.”
As far as changes are concerned, AbbyBank like all others are working daily to keep up with the everchanging technology phenomenon. AbbyBank is also attempting to acquire another location in the east-central part of the state.
“We always look for a community bank that is going to fit with our sense of community pride and customer relations,” said Jakel.
When asked about what she would personally like to see change, Jakel said, “Personally, I would like to see the regulations change so that it’s easier for our customers to bank.”
She mentioned that sometimes the regulations cater more to the larger banks and makes it tougher on small bank customers to handle their business.
Jakel also took the time to talk about how AbbyBank gives back to the community.
She mentioned things such as a charitable foundation which gives a percentage of AbbyBank’s profits back to the community.
She also spoke about the numerous grants the bank has given to non-profits over the years as well as various community activities that the bank has participated in.
“I see AbbyBank continuing to be community focused,” explained Jakel when asked where she sees the company in another 10 years.
She continued on to talk about the fact that expansion is always a possibility but that they do not always seek out banks to purchase.
AbbyBank has been in business since 1968 and the last 51 years have shown incredible progress, and the last 10 have been no different.
Look for AbbyBank to continue climbing in the next 10 years.
CEO of Peoples Choice Credit Union, Mary Henrichs sat along side marketing coordinator, Billie Hartwig to discuss the past and future of the company.
Henrichs said that there has been some expansion in the last 10 years which has allowed for more office space and the ability to serve more members.
“We have changed a little bit of our philosophy as well,” continued Henrichs.
The philosophy change has made the credit union much more community focused and has shown them some success.
“Probably the biggest thing in the last 10 years was merging with Gilman Area Credit Union,” added Hartwig.
This allowed for the credit union to expand its range of service.
“The growth in our membership and how we have been able to give back to them,” said Henrichs in response to what makes her proud to be a part of the company.
Henrichs reiterated that the customers truly come first at this credit union and that is not something that will change.
When asked why people should do business with Peoples Choice Credit Union, Henrichs again mentioned their focus on the community and their members.
It was made clear that they serve the community and give back as often as possible.
“Our big goal is to continue to grow and stay viable as a financial institution,” said Henrichs when asked where she sees the company in 10 more years.
She also emphasized the credit union’s focus on the “mom and pop shops” so expect more of the same membership focuses along with continued expansion and technological advances.
One of the biggest stories in the financial sector of the regional economy is with Time Federal Savings Bank in Medford.
This Medford-based institution has served the area since it was founded in 1934. Over much of that time, the bank has focused on real estate and home lending growing into one of the premier home mortgage lending institutions in the northern half of the state with assets of $586 million.
Stability has always been a core tenant of the Time Federal story and it is noteworthy that in the 86 years since it was founded, the bank has only had four presidents/ CEOs, each of whom has left a lasting impact on the organization.