The 3W Podcast: Stephanie Riffle - Part 1

What's the real difference between a bank and a credit union? After 30 years in the financial industry, Stephanie Riffle pulls back the curtain on how credit unions fundamentally change the banking relationship by putting people before profits.

From her humble beginnings as a teller to surviving five bank robberies (including a terrifying takeover on Y2K eve), Stephanie shares how the banking industry has transformed since her early days when smoking inside branches was common and rigid dress codes were the norm. Now at United Federal Credit Union, she explains how the not-for-profit model creates a dramatically different approach to serving members.

The conversation reveals surprising insights about fraud prevention, with Stephanie describing sophisticated schemes like the "felony lane gang" and romance scams that contribute to an estimated $90 billion in industry-wide fraud losses annually. She explains why those seemingly annoying ID checks are actually critical protections for your financial security.

Most powerfully, Stephanie articulates how credit unions empower staff to make decisions based on real-world circumstances rather than rigid criteria. "Bad things happen to good people," she explains, highlighting how United Federal's lending approach considers the person behind the application.

Transcript

Introduction to Stephanie Riffle

Speaker 1 0:06

Hey everybody, welcome to the 3W Podcast. Thank you so much for joining us. I have a dear friend with me who I'm going to let introduce herself, because I just am.

Speaker 2 0:18

Okay, everybody knows her.

Speaker 1 0:20

You don't really need an introduction.

Speaker 2 0:22

No, but go I do. There's a lot of people that don't.

Speaker 1 0:25

My friend Stephanie Hello yes. Stephanie Riffle. Stephanie, who are you?

Speaker 2 0:31

I am a hardworking, community-driven banker and a mom by day, banker by day and a mom and a mom by 24-7.

Speaker 1 0:48

And philanthropist and community go-getter, all the things.

Speaker 2 0:53

I love serving in this community.

Speaker 1 0:56

You do.

Speaker 2 0:57

In every single capacity.

Speaker 1 0:58

Tell us who you're with.

Speaker 2 1:00

So I work for United Federal Credit Union here in Arkansas. I have six locations in northwest Arkansas and in the River Valley. Just down the street at the mall Just right down the street.

Speaker 1 1:14

Yes, at Promenade by the Gucci gas station. That's right, Gucci gas station. I remember when that went in Gucci gas station.

Speaker 2 1:18

They're my landlords and truly enjoy what I've been doing. This is actually my 30th year in banking.

Speaker 1 1:26

Happy anniversary.

Speaker 2 1:26

Yeah, that's huge, it's huge. I'm telling my age, which I'm totally fine with.

Speaker 1 1:31

I don't care who cares, yeah, 48. 48, 51.

Speaker 2 1:35

All the same so 30th year in banking and it's amazing what all has changed. When I started as a teller because I went to UALR down in Little Rock- yes, I drove by that over the summer. Oh, it's changed.

Speaker 1 1:52

Somebody was like oh, something, something. Euler and I was like what's a Euler?

Speaker 2 1:55

Yes, Euler, I had to be educated. I didn't know what.

Speaker 1 1:58

Euler or Euphus was.

Speaker 2 2:00

I now know. Now you know, yes, okay Did you go to banking school, no.

Speaker 1 2:04

Teller school, no. Well, they trained you. Those things did exist at one point. They did yes.

Speaker 2 2:09

Now there is a banker school, but that's mainly on the, as we call it, on the credit union side, and it's mainly on the FI for the financial institutions.

Speaker 1 2:17

Got you and we're going. Parents okay, at some point.

Speaker 2 2:21

So, but no, just started my way from literally as a teller, which is the lifeblood of any institution.

Speaker 1 2:28

I love that story. I love it when I hear somebody started as a teller. I feel, like there's a bunch of them and I love it A lot.

Speaker 2 2:35

A lot of people started out there like, oh, I had a part-time job as a teller. Yes, or. I did this during school and that's what I did. I was working at Mazzeo's Pizza on Rodney Parham.

Speaker 1 2:45

Loved it. I grew up with Mazzeo's in a small town of Oklahoma. I love it. It was like the first self-serve sodas and we would make suicides.

Speaker 2 2:53

Yum.

Speaker 1 2:54

With the yellow cups. They're making me thirsty, I know I'm sorry. They are, yes, with the best ranch.

Speaker 2 2:59

But it's interesting how I got into that. It's from my father and the business that my daddy did.

Speaker 1 3:11

But was working at Mazio's Wait hold on Central Arkansas. Central Arkansas, I'm a hot springs girl, gotcha.

Speaker 2 3:14

Okay, yes, born, and raised, I was a what do they call us A 13 year senior. I went to the same school, kindergarten through 12th grade at Lakeside. Are you kidding? I'm a Ram. I will always be a Lakeside Ram.

Speaker 1 3:23

Oh wow, 13 generations.

Speaker 2 3:26

So it was nice. So kindergarten through 12th grade.

Speaker 1 3:30

That's amazing yeah.

Speaker 2 3:32

I love that Still have six of the same best friends. Oh, I do.

Speaker 1 3:37

You always talk about your besties, and I love that. I'm just like, oh, that's so cool. A lot of Arkansas people talk about their besties. Just like, oh, that's so cool. A lot of Arkansas people talk about their besties. I don't know what it is with Oklahoma.

Speaker 2 3:47

We don't really talk about our besties.

Speaker 1 3:48

No, I don't know, maybe I was just a snot in high school. I don't know, but I had a lot of friends.

Speaker 2 3:53

I liked everybody.

Speaker 1 3:54

I'm like I don't know, Hard to say I like people now. Maybe I didn't like them back then. I have no idea.

Speaker 2 4:00

But whatever, okay, so 13 generations.

Speaker 1 4:03

That means you weren't getting away with anything. And what did your daddy tell you?

Speaker 2 4:08

That just to work hard. My father was self-employed. Okay, and that's how I got over in Mazio's, because my dad, bino's Pizza, had a restaurant in Hot Springs. It's still there. We sold it many, many years ago. But that's why I was like. You know I can do this at Mazio's. I know how to make a pizza.

Speaker 1 4:30

I know how to make a mean pizza. I've got the customer service down.

Speaker 2 4:31

I can do all this. And then I was like you know what? I'm going to school and there were some challenges that I had my first year of school and kind of was told you're on your own now, Nice, you kind of lost a little bit of that money.

Speaker 1 4:48

Yes, yeah.

30 Years of Banking Evolution

Speaker 2 4:49

And so at that time Boatman's Bank was hiring and they would pay 80% of your tuition and at that time it didn't have to be business related. Wow, so that's what started me, and banking was getting hired on as a teller, which, boatmans, is now Bank of America, okay, so you know, with all the mergers and stuff. So that's just what started me on this career 80% of your tuition. Was paid and that's amazing. Most institutions will do a tuition reimbursement now, but it has to be business related, okay.

Speaker 1 5:27

But back then it wasn't 30 years ago. Oh my gosh, 30. Yeah, how about the changes? A lot Like I went through the drive-thru the other day and it screens.

Speaker 2 5:40

Yes.

Speaker 1 5:42

So I had to park and go in because I needed something from a human and like it was bigger than what would go through a slot and I was like so great, oh my gosh, I'm still old school and need people.

Speaker 2 5:54

No, and we do too. I'll tell you though the screens it's a real big fraud. Deterrent.

Speaker 1 6:01

Is it?

Speaker 2 6:07

There is, if you don't mind me saying, because this is, I mean, they talk about it on the news. Yeah, there's a fraud, they call it the felony lane gang. Okay, so L-A-N-E, my accent's very heavy, I apologize.

Speaker 2 6:19

I love an accent and a lot of people when they commit fraud, they will use the last drive-thru Okay, that's furthest from a window, okay, and they will send in your ID and your check. But it's been stolen. So you know, because we ask, right, you ask if you don't know, like you all know we do At your bank, we do. You know all your people? Yes, and I would say. And there's institutions that are the same way.

Speaker 1 6:50

Yes.

Speaker 2 6:51

But we pride ourselves at the credit union of knowing who our members are you do?

Speaker 2 6:55

So, but if you're coming through our drive-thru oh hey, how's it going? And you don't have the cameras, like you're saying, right, you have their ID and your check, you're doing everything, right. Well then you find out oh my gosh, that wasn't somebody. So there is a group they literally they call the FBI, the felony lane gang, and that's what they do is they perpetrate and steal? But they also when not only they're stealing their checks, when they go into a house and steal or a car a checkbook, whatnot.

Speaker 2 7:26

Well, their driver's license. So now, when you have those cameras, at least you can see a face and kind of measure it against the ID Fraud I would say has been the biggest thing I think that I've seen in terms of banking Okay, and all that has transpired. They're getting slick.

Speaker 1 7:52

Which is amazing to me.

Speaker 2 7:54

It is amazing, but it's more reason that we have to be on our toes, and I know there's instances where people that are going to be listening to this have gone and someone's asked for their ID. Be thankful that they're asking for your ID. We truly 1,000% are trying to protect your money. Yes, I mean super annoyed in the moment and I get it. But I get it, I get it.

Speaker 1 8:17

When I tell you I'm blown away at how advanced criminals are. So put a pin in that for two seconds. So because I'm old and I loved having a good time in college.

Speaker 1 8:31

I asked one of my nannies years ago and I was like hey, do you have a fake ID? She was like no, I think she was scared to tell me. Like she kind of looked at me like weird. I was like no, no, no, no, if you do, I'm okay. Okay, I don't mean that like it's coming out. And she was like no, I really don't, because they scan them at the bars and you can't get away. And I was like oh, that's unfortunate for y'all. I never thought about things like that.

Speaker 2 8:58

I mean this we had lots of magical IDs back in the 90s.

Speaker 1 9:03

So I didn't think about the scanning and all the things, so I don't understand how everyone gets away with things today.

Speaker 2 9:10

They do To the tune of do not hold me to this number but it's a very good estimate.

Speaker 1 9:15

It's on camera.

Speaker 2 9:17

It's a very good estimate $90 billion in fraud losses industry-wide. This is not a Arkansas, we're talking industry-wide, with all of the financial institutions, with all of the credit unions. So it is important for us, where I'm at, just to make sure that we are protecting our member and protecting the co-op, the credit union, by all means. We want to make sure that we're making our members whole, which, you know, we do try all the time, all the time. But yeah, fraud is, I would say, definitely fraud. And then just how some lending things are done, oh, I'm sure, yeah, but oh, and you know, 30 years ago you could smoke inside your branch. I remember, oh gosh, I had a boss who I will never forget. Her loved her.

Speaker 1 10:13

But when?

Fraud Protection and Safety Measures

Speaker 2 10:14

the doors locked closed at four, she'd start locking the cigarette and smoking it at her desk You'd go.

Speaker 1 10:20

Ashtrays were a decorative item back then Absolutely. I mean, they were amazing and you had them on the arms of your airplane seat and in your car. That's true, yes, yes.

Speaker 2 10:32

They'd do that Also. They'd pull out their drawer, they'd have their whiskey in their desk. I just remember thinking okay, if I ever get to this point A, I will definitely emulate some things I learned from that person.

Speaker 1 10:47

or B, I will never do what I learned from that person.

Speaker 2 10:50

So but yeah, a lot of that has changed. I know more smoking in a brand.

Speaker 1 10:54

And no more banker's hours.

Speaker 2 10:56

I never no.

Speaker 1 10:57

Right, I mean, that used to be the thing. That was like people used it all. It was like a Xerox and a Band-Aid. It was a thing Banker's hours and people were dressed to the nines to be in the banks.

Speaker 2 11:10

Yes, it's definitely a more casual business attire.

Speaker 1 11:14

Life is so much more casual.

Speaker 2 11:15

It is much more casual, but you also, it's important to dress with who you're going to be speaking to. You know if I'm speaking and speaking to a large group at a rotary. Yeah, I'm going to, but if I know that I'm going to go out and talk to a blue collar worker, you don't want to wear a three-piece suit.

Speaker 1 11:34

Absolutely not.

Speaker 2 11:35

You want to make everyone feel comfortable with who you're speaking to, and that's definitely has changed how the dress code is and just being more tolerant with certain things.

Speaker 1 11:48

Yes.

Speaker 2 11:48

With piercings, with tattoos yes. If you were not going to allow certain things. You're really alienating a lot of different people.

Speaker 1 11:58

I can see that. I can see that Because I am only pierced in my ears. Me too, and I'm not tattooed because I'm too afraid.

Speaker 2 12:06

Yes.

Speaker 1 12:06

I totally want one.

Speaker 2 12:07

Right.

Speaker 1 12:08

Very small, but I will probably never get one. But I'm constantly shocked by what I see.

Speaker 2 12:13

Yeah, there are, as long as it's not vulgar.

Speaker 1 12:16

Right, we have moved towards accepting, which is so great. But my old school mentality shocks me every time. Yes, it does, I'm constantly in a state of surprise.

Speaker 2 12:24

Oh, you sound like my mother. She's Martha Stewart, made over, still to this day tells me how to do my hair.

Speaker 1 12:32

I love that. Put your lipstick on.

Speaker 2 12:34

Yep. Everyone needs a little color Go in get your hair, fix your hair, put your face on. Put your face on. Yes, walk out there and you'll be fine.

Speaker 1 12:41

The kids today are a face Well, even though they're all Sephora'd up Right. Well the things. Yes, and skincare routines From here up or from here down. They look homeless.

Speaker 1 12:50

That's right, yes, they do so great, kids are so great. Okay, we're going to divide this into two parts, okay, so the second part's going to be the more fun part, but I do enjoy the first part. Why credit unions? Because I remember when you and I sat down a year ago. First of all, we did a podcast years ago at a Mercy event yes, and that's where I met you.

Speaker 2 13:13

Absolutely.

Speaker 1 13:13

And I loved that, and you were in a boot from a spring break accident.

Speaker 2 13:17

Yes, which?

Speaker 1 13:17

was a great story, but why credit unions?

Speaker 2 13:21

You know, I was blown away from that lunch.

Speaker 2 13:25

I never knew anything about credit unions until six years ago and I know on the financial industry side. You have your shareholders. You are doing well, you want to do well for your shareholders. In a credit union, we are a not-for-profit. Everything that we make we put back to our members. Every member is a stakeholder at United Federal Credit Union, at any credit union. It also with that not-for-profit, we do invest a lot with our infrastructure. We pay our members their dividends each month and then again we're making sure that we're taking care of our members. We listen, we allow them to every member, whether you have five dollars with us.

Speaker 1 14:15

Which is what it takes right Five dollars. Five dollars for membership.

Speaker 2 14:18

Yes, as long as you live, work and worship in the state of Arkansas, you can become a member. Live, work and worship in the state of Arkansas. You can become a member, Become a member of United Federal Credit Union with $5., but you have a say in how we do business, which is wild, Whether you have $5 or $5 million. We welcome that feedback. Another thing all of our board members are volunteer basis. So, our board members, we have a great board of folks all throughout our footprint.

Speaker 1 14:48

Does every branch have its own board? No, ma'am State.

Speaker 2 14:51

But in Arkansas we do have a board director that represents us here in Arkansas Female. She works at Cargill, yes, and then our other board members are in North Carolina, michigan, indiana and Nevada.

Speaker 1 15:05

Okay, I think I've talked to your Michigan people. Yeah, they're great. Yes, oh, yes, that's HQ, that's.

Speaker 2 15:10

HQ. We were Whirlpool, so we've been around for about 75 years, which is a great story.

Speaker 1 15:15

You were like the bank within Whirlpool so that they could cash their check with the crazy manufacturing hours.

Speaker 2 15:22

Yes, absolutely. So with the crazy manufacturing hours, right? Yes, absolutely, is that why it started?

Speaker 1 15:25

Yes, To give everyone control Correct, to give the employees control.

Speaker 2 15:32

Yes, and it's you know. I say a lot too on the credit union side because I've worked for three large, extremely large institutions large, extremely large institutions. I am allowed to make a decision based on what I know of the market or the said individual At the bigger places.

Speaker 1 15:56

It's not always this.

Speaker 2 15:58

No, ma'am, it is not always black and white. You don't put anyone in a box. It's very gray and I like that. It's a lot of responsibility, of course, but bad things happen to good people. All, the time, all the time and it allows just to open up a book and say not everybody is the exact same. Just to open up a book and say not everybody is the exact same and make a judgment and make a call based on that. It's also the support that we give to the community.

Speaker 1 16:34

That's part two Means the world to me, because I can't wait to dive into that. But you have so much control. Isn't the right word obligation or power? I don't know what the right word is, but at your credit union, all of you are empowered, very empowered. It's our culture. Yes.

Speaker 2 16:54

Yes, there's. Our CEO, terry O'Rourke, has a. We're no silos. There's no silos. If I want to pick up the phone and reach out to Terry, by all means I can reach out to Terry. If a teller wanted to reach out and ask a question, they could do that. It is that's our culture that we have. We are a listening organization and I that's why I get up and go to work every single day, I mean every time you talk about what you do Seven days a week.

Speaker 1 17:24

Like I said, there's no banker's hours.

Credit Union vs Traditional Banking

Speaker 2 17:27

I have to be accessible whenever you know, because people work eight to five. That's why I tell everybody all the time is I'm like we can do things for you over the phone. You, you're at work. We need to take care of you when it's convenient for you to meet people where they are.

Speaker 1 17:45

Yes, and I think every time you talk about what you do, you glow. I do.

Speaker 2 17:49

Oh, thank you.

Speaker 1 17:49

I love it I truly do.

Speaker 2 17:51

It's, uh, I truly do, but I also have phenomenal support, and this organization allows me to do that and you love your people at the bank love every one of them.

Speaker 1 18:02

You told me about a story. Was she graduating something, or was she a single parent, or she was like the first one to do something amazing, and maybe you closed the bank to go help her. This was, I feel, like last spring oh, and well you like were telling me I gotta run it because your daughter was covering an event for us and you were helping your daughter and you're like I'm not staying for this event, even though I love it, because I gotta go support somebody who works for me and tears.

Speaker 2 18:38

She um uh cancer.

Speaker 1 18:42

That's what it was, I'm sorry, not gradually. No no no, no, I'm like I knew it was something huge. Yes, that's kind of an excellent, but she was going to ring the bell right.

Speaker 2 18:49

Yes, and she asked me to go with her to go ring the bell with her family and um to say I was honored Because your people are family. Yep, yes, absolutely, and we just supported her. Well, your members are family too. Yeah, but we supported her.

Speaker 1 19:04

Your four walls at the bank are your family too.

Speaker 2 19:06

Yes, we at Christmas I think that's what I was telling you too At Christmas the credit union gives every employee $20.

Speaker 1 19:14

Yes.

Speaker 2 19:15

People may think $20, but we do it. Dollars, yes, people may think $20, but we do. It's called Pay it Forward, but every branch pulls their money together and what the branches in Arkansas did in one branch, I believe, in one of our North Carolina markets pulled together and we gave over $600 to that young lady Still employed with us. She's phenomenal, everybody knows, so I'm not saying anything. She's wonderful.

Speaker 1 19:45

I expect big things from her coming up, I know, and did she start out as a teller?

Speaker 2 19:50

Yes, so yeah, and I did. I'm going to go and do that and again, she invited me.

Speaker 1 19:56

I know Of all people I love that. So, yeah, I'm like yeah she invited me.

Speaker 2 19:59

I know Me of all people. I love that, so yeah.

Speaker 1 19:59

I'm like, yeah, it was something huge, but you also.

Speaker 2 20:04

I think it's very important that in any type of leadership role, you treat everyone the same, and I hope that I do that.

Speaker 1 20:15

I mean I'm not on the receiving end of that. I'm only on the receiving end of myself. I'm only on the receiving end of myself, and you've always treated me like we're best friends from the second we met that cornhole at a RAC event. Yes, I'm like who are you? Why do you have a boot on and why do I get to talk to you?

Speaker 2 20:32

Like, tell me all the things and we've known each other ever since We've been hugging ever since, absolutely. Yeah, that's just me too. I mean, I go back to, that's how I was raised.

Speaker 1 20:44

Yeah, I was doing something recently and they're like, oh, what do you do at the magazine? Do you write? I was like, oh no, I hug people. No, oh, that wasn't what it was. I just completely lied. I like to hug people too, right. I'm like, no, I was talking to a teacher at my youngest school. I was like, listen, I'm not into math, it's a math person. And I was like my husband's an engineer. He really sees the value in math. I own a magazine and I hug people and make things look pretty. So you go forward with your advanced math. I'm going to be over here cheering y'all on, but this is my space. It's your strength. I hug people, absolutely.

Speaker 2 21:27

We need to play off of our strengths yes, because, trust me, I have a lot of weaknesses too or, as I like to say, opportunities.

Speaker 1 21:34

Opportunities.

Speaker 2 21:35

I'm absolutely stealing that I'm like no, I have opportunities. Yeah, okay, Opportunities.

Speaker 1 21:38

I'm absolutely stealing that I'm like no, I have opportunities. Okay, I don't have math weaknesses, I have math opportunities, math opportunities.

Speaker 2 21:42

I have math opportunities too, if you can believe that or not.

Speaker 1 21:45

Do you have to do a lot of math?

Speaker 2 21:46

I whip out my calculator all the time. Yes, Do you Well. I mean yes, okay For forecasting.

Speaker 1 21:52

Okay, yeah, you're like, is this it? Did I really just get this call, like I have a cow and it just reproduced into 10 million.

Speaker 2 22:18

I don't even know.

Speaker 1 22:19

Like what is the most bizarre bank call?

Speaker 2 22:22

I think the most bizarre question maybe that I have been asked. Hmm, god, that's a great question.

Speaker 1 22:31

There's so many. Could you write a book with the most ridiculous things that have come to you?

Speaker 2 22:38

I could, I could, I could. That's a good one. I don't know, I don't know I could think of. I know funny things that have happened.

Speaker 1 22:48

Okay, go Give me a funny one to where you're like is this real life?

Speaker 2 22:50

I know funny things that have happened and it's internal, it's definitely not with a member. But you know, going back to the drive-thru, I remember training someone. This was when I lived in Denver and we had hired a new teller and it was a large branch, I had 18 staff. It was in the Denver Tech Center and huge, huge branch in the DTC in Denver and we hired this young lady and our drive-thru was detached. So what we call now there's swivels and there's detached. So this was a detached meaning like the lobby couldn't help the drive-thru. So we're training this young lady and I'm like, okay, so here comes somebody. Just, you know, speaking to the microphone, the tubes were in the ground and they were not above.

Speaker 2 23:40

She literally leaned in and was screaming and, hello, how can we help you today? And I'm like, okay, did I make the right hire? I will never forget that and I've shared that story so many times that I'm like this is how I to this day.

Speaker 2 24:00

I cannot remember her name, but I'm thinking like the microphone's right here like it was this obvious yeah and it was the tube, because the tube was out there with the in the drive-thru lane with the customer and she's talking into where it would have come back up. I love that and I'm just like wow wow. But no, you know, I think a lot of people were checks and deposits. There's so much more to it than that.

Speaker 1 24:27

Oh. So much more to it than that, and your little drawers have to be balanced. I don't know 100%. We don't want a penny.

Speaker 2 24:34

I could never have done that. We do not and we do not. If we find a penny, please don't hand it to us. We don't want that. Just go back, throw it out, keep whatever you want to. Tellers like their money. All is facing the same way.

Speaker 1 24:51

Just.

Speaker 2 24:51

FYI when you bring in currency, make it all face the same way. It's pet peeves, you know it's funny, you learn all these things. Oh great, it's pet peeves, you know it's funny, you learn all these things because we will, we'll flip it.

Speaker 1 25:01

I've seen that happen.

Speaker 2 25:02

Because when we send it back to the Fed, that's how the Fed requests it.

Speaker 1 25:05

Okay.

Speaker 2 25:06

Good to know. So you know just little one-offs. Oh, I will tell you I've got a great one.

Speaker 1 25:10

Good. I don't know Yelling into a tube is so good, and I have a tube story, so let's come back.

Speaker 2 25:18

But we do not. If you have a million dollars on deposits, that million dollars is not sitting in a said branch, okay. So if someone wants to come in and we get this a lot where I need to withdraw $500,000, and I need it all in cash.

Speaker 1 25:42

We're not going to be able to accommodate. A deal is going down, it is.

Speaker 2 25:44

We're not. Well, I would love to accommodate you because we are federally insured or through the NCUA. Okay, you know there's limits that each branch can have. I mean you're. Why would someone need to have a million dollars? You know, it depends on where the location is.

Speaker 1 26:03

So we're not keeping all of our money in that vault.

Speaker 2 26:05

No, Number one, we're not going to keep all of our money in that vault. But, number two, we probably can't accommodate something like that because I've got other members that I've got to accommodate Right. So sometimes you get some upset people, because I truly think there are people that believe that when they deposit ten thousand dollars, their ten thousand is going to be there, which, yeah, we're going to be able to accommodate that right, okay but I'm 50, 50.

Speaker 1 26:30

You're, you're 500 grand.

Speaker 2 26:32

I gave you my money probably, and it's just not safe it doesn't feel safe.

Speaker 1 26:38

It's not. I might be okay with rolling around in that money for just a moment.

Speaker 2 26:43

Yes, and you're like it's just not safe Between that and the romance scams that go on and what our victims fall for.

Speaker 1 26:51

Like I got to pay somebody to be my boyfriend. 100%.

Speaker 2 26:55

Stop it 100%. They will not necessarily pay someone, but they will meet someone online. They're catfishing them.

Speaker 1 27:03

Oh, is this like the Twitter guy that I watched on Netflix a few years ago?

Speaker 2 27:10

These are just vulnerable, single people. There's really no age, demographic. Anybody can fall for this and somehow they're. You know. They've been contacted via an email or they've reached out to them via Facebook. You've got the romance scams that go on. Then you also have those that get a check in the mail from Publishers Clearinghouse and they believe that they've won the Publishers Clearinghouse, but unfortunately they never applied to win the Publishers Clearinghouse. Oh okay, so you have that, and yeah, there's a lot that goes on. Yes, check, scams are crazy.

Speaker 1 27:51

Work from home.

Speaker 2 27:53

Yeah, work from home, I'll pay you $5,000. Oh.

Speaker 1 27:56

I love those. I get those texts. They're like we just got your resume and I'm like I haven't had one in 20 years.

Speaker 2 28:03

Or the toll road. You know the recent one. We've had the toll road.

Speaker 1 28:06

Oh, the toll road. Yes, I'm about to go to jail because I didn't pay my toll.

Speaker 2 28:09

And I'm like okay, but it's unfortunate that people fall for it. Oh, that's so sad, so it's just education on our part, that we just have to educate, that's amazing.

Speaker 1 28:19

Yeah, Are you allowed to say, speaking of what cash you have? Is there an average for what a bank or a credit union holds on cash?

Speaker 2 28:29

No.

Speaker 1 28:29

Is it different? Every institution and every branch.

Speaker 2 28:33

Yep, wow, every one of them are very different. Really Interesting, and just first and foremost, is the safety of the employees and making sure so that's why there's limits, too Okay To make sure that everyone is held safe.

Speaker 1 28:48

Okay, speaking of safe.

Speaker 2 28:50

Yes.

Bank Robbery Experiences

Speaker 1 28:50

Have you ever been around a robbery?

Speaker 2 28:52

I have had five Stop it.

Speaker 1 28:56

You've been a part of a bank robbery.

Speaker 2 28:58

Yes.

Speaker 1 29:00

Is it like TV?

Speaker 2 29:02

Worse.

Speaker 1 29:03

Well, because it's real.

Speaker 2 29:05

That one, my very first one, was probably the worst December 31st 1999. What was everyone doing on December 31st 1999?

Speaker 1 29:19

Y2K.

Speaker 2 29:19

Absolutely yeah.

Speaker 1 29:20

I can tell you where I was. I can too. You were in the bank.

Speaker 2 29:23

Yep, and we were robbed that day. It was a takeover. So when you say takeover, okay, there were three gentlemen.

Speaker 1 29:32

All right.

Speaker 2 29:33

At this particular branch, which is still there.

Speaker 1 29:35

What state are we in In Little Rock? Okay, what state are we in In Little?

Speaker 2 29:37

Rock. Okay, this was in Little Rock on Rodney Parham Road. Okay, right next to Jiffy Lube and Wendy's. Okay At that.

Speaker 1 29:43

Bank of America branch there.

Speaker 2 29:45

But there were it was double doors. So you know you walk in and then you have your vestibule, Okay, and then you walk in the other door and you've got your lobby, Okay. So we have mag locks where you could press a button and you could lock, Like if you saw someone coming in, lock them from coming into the lobby, right, but nobody has time that particular day. I mean, that's really what people? That was the buzz.

Speaker 1 30:10

Like Y2K. What's going to happen? Yes, everything's going to shut down.

Speaker 2 30:12

And that's when they came in to, they took over, they jumped the teller line, they pistol whipped a female employee that we worked together. She was on the phone with St Louis. I mean, I remember it like it was yesterday like where were. You and I was at a desk and as soon as they came in we all hit the floor. Just like they said, several of us hidden under desks. Did they see you?

Speaker 1 30:41

I don't necessarily remember if they saw me because I have, like you know, a big lobby picture and those little offices. Yes, right, well these.

Speaker 2 30:48

We had no offices. All of our desks were out in the middle, like the manager like a cube farm, but not yes, okay, yes, oh, everyone's out in the open, everyone's out in the open, everyone's out in the open. They jump over, tell her they take all the drawers and it was, you know, probably a good three minutes.

Speaker 1 31:07

I mean you're like 20. Oh, 100% yeah.

Speaker 2 31:10

You get up, you know we've got our procedures, what we do In the case that something like that happens. We took those procedures. And I remember the next thing I kept thinking is I've got to call my parents, I've got to call my parents, I've got to call my parents. This is when they watched Dialing for Dollars with Beth Ward. That was back in the day, and I just remember thinking I've got to call my parents, they will flip. And I called my dad first. He was just always an anxious man just to say, hey, I'm fine.

Speaker 1 31:36

Are the robbers still in there? No, they were gone. Oh, okay, they had gone and about 28 minutes later they were caught. How long were they in the bank? About three minutes, three minutes just putting money into bags.

Speaker 2 31:49

And then they left Screaming, and then they left Took off on foot, didn't? Hurt nobody, except for the one they pistol whipped Because she was on the phone, just knocked her.

Speaker 1 31:58

Yeah, it was crazy and then the others 28 minutes later.

Speaker 2 32:02

That's pretty good.

Speaker 1 32:03

That is insane.

Speaker 2 32:05

That's roughly probably about what it was.

Speaker 1 32:07

LRPD had. Oh for sure. Yeah, way back then. They were great, it would be easy to get away.

Speaker 2 32:11

It was fantastic. It was fantastic. Nah, wow, no, it's not. And the others is. I say you wish this on anybody, but if you do go through that, you just want it to be a note passed. One person's involved and no one else knows until they're gone. And those have all been the others, except there was one other that when I was in Little Rock and yeah, it was, it was pretty traumatic one. But the others I had several in Denver and there were no passings.

Speaker 1 32:42

Really, yeah, Were they all caught.

Speaker 2 32:44

Yes, all five, mm-hmm. Wow, if we do our job right, they'll be caught.

Speaker 1 32:49

That's amazing.

Speaker 2 32:50

Yep, if we do our job right, they will be caught.

Speaker 1 32:52

Huh, ballsy.

Speaker 2 32:54

My heart goes out any time that I see it with any place. You know, any time that I see it with any place you're. You know, I always just especially if I know someone at that institution which I feel like I have a good rapport with a lot of folks at other institutions, because we've probably all worked together at one time.

Speaker 1 33:10

Yes.

Speaker 2 33:11

But you do. Your heart goes out to them because you know what it's like. It's not fun.

Speaker 1 33:15

Does it give you anxiety when you watch that in a movie?

Speaker 2 33:18

No, Really, I really try not to watch movies like that, though I'm like first of all, I'm like that's not how it happens.

Speaker 1 33:24

Well, I know that would be me, but you know like that's what you see, you see all this and you're like yeah, for sure they're not going to get rich off of it. It's been in a million movies, but the movie.

Speaker 2 33:35

Gosh, yes, Well, that, no that.

Speaker 1 33:38

That is what I think of as the ultimate, like bank robbery scene, yes, which is a great movie.

Speaker 2 33:42

I mean, I really enjoyed it. It is a great movie, yes, yeah. And I'm like oh for sure, Is that how it goes?

Speaker 1 33:47

No, It'd be so easy to get away with everything if you're like dressed as a dead president as a dead president, yeah, that's, oh, my gosh, oh. Kiana, that's pretty good about that movie. And Patrick Swayze. Yeah, yeah, oh, my gosh Right, yeah, back in the day.

Speaker 2 34:03

Back in the day. I don't even know when that came out.

Speaker 1 34:04

If that was late 90s or early 2000s.

Speaker 2 34:06

In the 90s, because that was around the same time. Ghost was out, right.

Speaker 1 34:09

Oh yeah, you're probably right, because I I don't remember much from yesterday, but I can tell you Same. They're like do you have some? I had multiple photo shoots this morning and she was like I'll see you tomorrow and I was like really, I do that all the time and I was like she's like how do you not know? We've already been through the schedule multiple times. I'm like day by day, Day by day, and it's not tomorrow yet.

Speaker 2 34:35

Day by day, I consider myself pretty organized, but I rely heavily on my calendar.

Speaker 1 34:41

Kids suck their brain cells, everything, yeah. So I'm like I have no idea what's going on tomorrow. Actually, I will see you tomorrow because I do know, because I had to look at the calendar.

Speaker 2 34:51

I will see you tomorrow. What we have tomorrow, yes.

Speaker 1 34:52

Yes, we have a long day.

Speaker 2 34:54

Yes, we do. Tomorrow it's going to be exciting.

Speaker 1 35:02

Okay, I feel like we've touched on all the bank stuff, don't you? Yeah, because I want to save part two for what you and the bank touch on. Okay, giving wise. I would love that, and then I just want to touch on all the fun fluffy stuff. Perfect On here.

Speaker 2 35:14

Is that good with you that?

Speaker 1 35:15

sounds great. Okay, thank you for joining me in part one. I appreciate it Because I just always feel like, why not? When it comes to these credit unions, or your credit union, I shouldn't say these I don't even know.

Speaker 2 35:27

Ours, you're the only one, that is. But as I've told you many times, there's great places around here.

Speaker 1 35:35

I know You're just a builder. Builder-upper.

Speaker 2 35:38

Well, I've always said you never know if you might. You do not talk about your competition. You never know if you might work for them one day. And it's building the rapport. We all need each other. We all are here to help everybody. You know and it's. They refer business to me and I refer business to people. If there's something that doesn't fit with my wheelhouse, I know exactly who I'm going to refer that to and I know that other banks and other folks at other institutions know the same thing about us.

Speaker 1 36:08

Well, that's a good question. Does everyone have their own zone lane, like I mean, I think in Northwest Arkansas, from a publication standpoint, the four of us all have our own lane. Actually there's more of us now, but I feel like we all have our own lane.

Speaker 2 36:27

We're all good at something. Yes.

Speaker 1 36:29

From a banking standpoint, does everyone have their own lane-ish?

Speaker 2 36:34

I would say other institutions. Here's just my opinion. When other bankers think of United Federal Credit Union, they're thinking loans.

Speaker 1 36:47

No kidding, yes.

Speaker 2 36:49

That is what the majority of my peers refer back to me. Well, they're not going to refer deposit because they want those deposit dollars.

Speaker 1 36:56

Oh, I'm like you know me, I'm like I have no idea, Okay.

Speaker 2 37:00

And we all are, you know it's. We want the full relationship because I feel we can service a member better when we do have the full picture of what, of what's going on. But lending wise that is, I would say 80% of my referrals that come from a different institution is because of our products that we offer on the loan side, from our auto loans, our rates are just better.

Speaker 1 37:25

Is it because you're more people oriented?

Speaker 2 37:27

It's because we're a credit union.

Speaker 1 37:29

Okay, and credit unions just have more empowerment to see beyond the black and white.

Speaker 2 37:34

I would say us, in the size of a credit union that we are, you know, we have the monies to loan out where we're not borrowing it from the Federal Reserve.

Speaker 1 37:47

Oh, is that what institutions do? Oh, yeah, and we do too, absolutely, we do too. Oh, I'm like I have no idea. Yeah.

Speaker 2 37:52

In order to fund, you have to have to fund a loan. You've got to have the deposits to fund that loan.

Speaker 1 37:57

Okay, and if you're not having Like rob Peter to pay Paul, but not quite when we are very financially sound, but Peter can still come in and get his money. Yes, got it. Yes.

Lending Specialties and Services

Speaker 2 38:08

Okay, and it's just, we're known for our rates and we're known for our terms. We actually can go out longer on terms than a normal financial institution.

Speaker 1 38:19

Like on a Like an.

Speaker 2 38:21

RV we go up to 180 months. Out On a boat anything recreational, we can go up to 180 months.

Speaker 1 38:30

Oh, what's a car 60-ish we can go up to 84.

Speaker 2 38:33

And it's all dependent upon what's the standard 60. 60 to 72.

Speaker 1 38:36

Is that standard on RVs and recreational stuff?

Speaker 2 38:41

On recreational Like in other institutions. Their standard may be 60 months and or just 10 years, where we go out up to 180 months, which is 15 years.

Speaker 1 38:51

Interesting. What about mortgages? Those are 15 and 30,. Right, we have those products, yes, got great products on our mortgage side too.

Speaker 2 38:58

I mean because we're full service. And that's another thing that a lot of folks may not know is we are full service, whether it's commercial. We could do small business banking consumer.

Speaker 1 39:08

Am I like a moron to just assume you're full service?

Speaker 2 39:12

No.

Speaker 1 39:13

I just assume you could walk in there and be like, no, that's great.

Speaker 2 39:16

There are some people that do not.

Speaker 1 39:17

You're a financial institution. You're going to have all the things Right, but there are some that don't there are some credit unions that are strictly consumer.

Speaker 2 39:25

They do not offer business products.

Speaker 1 39:28

Oh, that's never even occurred to me. Things I don't even realize, things you don't know, that you just don't know.

Speaker 2 39:33

Right, absolutely, oh yeah. So it kind of goes back to, like you know, you said on, the part two is really talking about that, the small business side of it, and whether it's a nonprofit or someone just getting started, it's nice to be that person to help them with their dreams and what their vision is.

Speaker 1 39:57

What's your breakdown? Is it? What's your percentages versus what? Do you call it? Consumer versus commercial? Well, yes, yes In.

Speaker 2 40:02

Arkansas heavy on the consumer, at least at over 70%. Oh, okay, that's what I assumed. Yes, but I just wasn't sure.

Speaker 1 40:07

Yes, same thing I would say about it, and a lot of farmers, yeah, I feel like you told me this in our first lunch a year ago A lot of farmers, a lot, a lot.

Speaker 2 40:17

Especially in some of our other markets where we are yes, we have some, not as many, in Arkansas, where we are, in Northwest Arkansas and the River Valley but definitely within our footprint? Yes, but you have crazy numbers. We're in Ohio. Yes, ma'am.

Speaker 1 40:33

Yes, Because we live in a gold bubble. So, yes, you have crazy numbers out here.

Speaker 2 40:37

I do remember that part, yeah, but I would say, definitely very heavy on the consumer, again, just because, too, we are known for doing car loans.

Speaker 1 40:49

Oh my gosh, so y'all are the car loan people-ish.

Speaker 2 40:52

We want more.

Speaker 1 40:53

You do all the things, yeah, all the things.

Speaker 2 40:55

Yes.

Speaker 1 40:56

But when people think of you, they think of a car loan.

Speaker 2 41:00

Because of our rates.

Speaker 1 41:01

Wow yeah.

Speaker 2 41:03

But we service them. So you come in there and do it all.

Speaker 1 41:05

Yeah, I love that. Oh my gosh, that's a great place to stop. Thank you so much. Stick around for part two. You stick around for part two and, as always, shout out to Hershey Salty Snacks because they have amazing products.

Speaker 2 41:22

Yes, they do. Dots, Homestyle Pretzels, oh the best, and Pirate Booty the best. And what a great group that Eric has here, right In the local market with Hershey's. Yes, yes.

Speaker 1 41:30

Thank you. I love that you knew that, because not many people do so fantastic.

Speaker 2 41:34

They do a lot for this community. They do a ton for this community. People have no idea.

Speaker 1 41:38

I'm lucky too.

Speaker 2 41:39

We're lucky to have them. Yes, we are.

Speaker 1 41:41

Okay, keep inspiring Culture of Giving and don't forget to check out part two. Bye.