As the chief member experience officer at VyStar Credit Union in Jacksonville, Florida, Joel Swanson focuses on ensuring that the financial institution takes a member-focused approach to everything it does. It’s a strategy that manifests in a variety of ways.
Some of them are experienced by members every day, such as the excellent services and products VyStar provides to its more than 900,000 members. They include great loan rates and benefits such as early direct deposit, rewards on credit cards, low- or no-fee accounts, financial wellness education, interactive touch screen kiosks in branches that provide financial tools, and online financial calculators.
Others involve the larger community as a whole, including support for local events and charitable organizations.
Joel Swanson said it’s an approach that benefits the financial institution’s members, employees, and the communities they serve. “It’s all connected,” Swanson noted, adding that VyStar leadership instilled that idea in the credit union’s motto: “Do Good. Bank Better.”
For example, the credit union’s charitable VyStar Foundation provides corporate sponsorships to nonprofits that focus on programs that help young people, military service members and veterans, and community building.
Recipients in the foundation’s first round of funding included Beaches Habitat for Humanity, Five Star Veterans Center, the Northeast Florida Women Veterans Inc., and the Alachua County Coalition for the Homeless and Hungry. In all, the VyStar Foundation provided a total of almost $200,000 to 10 recipients.
The financial institution also makes arts and culture a target of its community efforts. VyStar recently sponsored the Jax River Jams concert series for a month in Jacksonville. This free event drew thousands to downtown’s Riverfront Plaza to watch a diverse lineup of headliners like “It Wasn’t Me” hitmaker Shaggy, country star Chris Lane, and local indie rock, hip-hop, reggae, and country bands.
Swanson attended the event, calling it an “amazing month of amazing talent” for Jacksonville and the surrounding region. The concert series, which started as a way to bring people back downtown as the worst of the COVID-19 pandemic waned, also featured food trucks on-site. People are allowed to bring chairs and blankets to enjoy the show. VyStar has sponsored the event for three years.
“Everyone knows that VyStar is about doing good in the communities we serve,” Swanson said in a video from the event. “That includes everything there is in that community, whether it’s arts, culture, or musical entertainment.”
He added that bringing the party to Jacksonville “has been really, really meaningful and just wonderful to see.”
A History of Helping People and Supporting Communities
VyStar Credit Union started in 1952 as Jax Navy Federal Credit Union, serving military personnel and civilian employees at Naval Air Station Jacksonville. Operating as a not-for-profit organization, it’s always used the money it makes to improve services to members.
In 2002, the financial institution changed its name to VyStar Credit Union. Since then, it’s experienced substantial growth, expanding to 69 branches in Florida and Georgia and providing services to military service members and veterans all over the world.
Its services also have expanded to include not only traditional banking functions such as savings and checking accounts but also innovations such as online financial management tools.
Today, VyStar, which started with 12 members and $60, has more than $13 billion in assets. Despite the growth, VyStar remains true to its roots, with a commitment to personalized service, community involvement, and the financial well-being of its members.
Joel Swanson said that in addition to growth in membership, the credit union has focused on innovations in technology that can improve the delivery of services to members, including better self-service options.
Joel Swanson Brings Extensive Experience to VyStar Credit Union
Joel Swanson brings a diverse professional background to his role as VyStar’s chief member experience officer. Before joining VyStar, he worked as a business systems analyst at Schroeder Consulting Services from 2006 to 2007. Following that, he dedicated 11 years of his career to Alaska USA Federal Credit Union in Anchorage.
During his tenure at Alaska USA Federal Credit Union, Swanson held various positions of increasing responsibility. He served as the senior business systems analyst from 2007 to 2011 before becoming applications supervisor from 2011 to 2012. He then worked from 2012 to 2017 as the vice president of electronic services, before becoming senior vice president of branch administration.
Swanson also is an active member of the community as an individual. He serves on the board of the Jacksonville Zoo and Gardens and the Boys & Girls Club of Northeast Florida. Additionally, he served previously as chair of the Light the Night Executive Committee for the Leukemia & Lymphoma Society.
In his job as chief membership experience officer, Swanson focuses on providing a personalized, simplified experience to every member of the credit union. His background in technology has served him well in this space. He’s especially interested in what fintech brings to the table, something he said the VyStar leadership team agrees on.
He said in a recent interview that while awareness of the competitive challenges of fintech and tech companies in the financial services industry is important, committing to taking action that improves services to customers is key. VyStar leadership, he said, is willing to take those steps.
“The whole leadership team here at VyStar is aligned and works together on defining the strategy,” he said. He later added, “It is so fun to be first and to have a CEO, a management team, and a board that wants us to be first.”
According to Experian data, 22% of American adults have personal loans. A personal loan is an in-demand type of loan. So many lenders offer it, making it accessible to the general public. If you’re interested in getting one, there are various things you need to know first, such as where to get it and how. Below are the lenders that offer personal loans, information about how you can attain them, and the terms they might have.
Banks
Banks are always the first option to getting a personal loan. It's because most banks offer a variety of loans, and most to-be borrowers have bank accounts. About 95% of American households have or have access to a bank account. Taking out a personal loan from a bank where you have your account is highly recommended. Since you have transacted with the bank, they already have your records, and signing up for a loan will be easier.
There are typically two ways to obtain a personal loan from banks. You can apply either onsite, online, or a combination of both. You may be directed to a loan officer on site, who will discuss the process and the terms should you qualify for the loan. You can also sign up online by looking up at their site, filling out a loan application form, or whatever is instructed by the site, and waiting for further instructions.
While banks can make the process convenient for their clients, you need to see that you fit specific qualifications. For example, they might tell you that you need a specific credit score to qualify, or you will be charged a higher interest rate if you have a low debt-to-income ratio. Having a good credit history will give you better deals for your loan.
Credit Unions
A credit union is another lender that can provide you with secured and unsecured personal loans. It is a non-profit financial organisation that is built upon the profits of the owners and its members. Banks offer various financial services, including loans, although the specifics may vary from one credit union to another.
You can get a loan from credit unions on one condition: you have to be a member. The services they offer are commonly exclusive to members since they are the ones who put money into the institution. Upon joining, they are also granted an account, giving them access to pool their money and avail of the financial services offered. You can apply and keep track of the loan through that account. Depending on how the credit union operates, you can apply for a loan either by visiting their office or online. You will be catered to with hands-on negotiations regarding how much you need to loan, your interest rate, and for how long you will be repaying the borrowed money plus interest.
Credit unions have an advantage over other giant lenders because they do not charge taxes and need only enough funding for their regular daily transactions. With this, you may be charged a lower interest rate, which helps save money than transacting with other lenders.
Lending Companies
As the name suggests, they are financial institutions that specialise in offering loans. The qualifications are typically the same as other lenders like banks, but most lending companies have less strict standards, making it more accessible. You can apply either onsite or online with these companies.
Several lending companies operate and let you transact with them through the internet for your convenience. Depending on the lender's terms, you can transact with them in the quickest way possible and get the money within minutes. However, before you begin any transaction with a company without prior experience, you have to think of two things: the legitimacy of the company and the availability in your area.
First, you need to make sure that lenders of your choice are legitimate. Second, check or contact a government agency to do so or spot signs of a scam, such as an unsecured website, unresponsive contact details, or zero reviews.
The next thing you need to check is whether they are available in your area or not. An easy way to do so is to google for available lenders plus your location. For example, you can search for lenders in Birmingham or apply for Birmingham personal loans online.
To Conclude
You can get personal loans from several lenders like banks, credit unions, and lending companies. You need to find the right one for you and make sure that you can fulfil their terms and pay back what you owe.
