Branching into Pa. with an eye toward the next generation

Ty Muse, president and CEO of Visions Federal Credit Union, says it’s the random acts of kindness “that capture the soul of who we are and what we do.”

Asked to explain what that means in practical terms, it didn’t take Muse long to recall stories of how his credit union stepped in to help people in need in rural central New York, where Visions began 50 years ago as the IBM Endicott Employees Federal Credit Union. Like most credit unions, it was created to meet the financial needs of a specific business’ employees and their families.

“The last bank closed in neighboring Windsor, N.Y., and there was no financial institution to serve the residents at all,” Muse said. “People grew weary of banking online, not knowing where their checks were ending up, changing rates and fees.”

Flying back home recently, Muse struck up a conversation with a passenger who happened to be from the Windsor area who was having difficulties making car payments.

“The next day I texted our vice president of lending, and we were able to save this gentleman $100 a month,” said Muse, whose company has 44 branches “It’s the little things that make a difference. Every time a member comes into a branch, we sit down with him.”

Headquartered in Endwell, N.Y., with $3.5 billion in assets, Visions Federal Credit Union has grown to 44 branches in eastern and northern Pennsylvania, northern New Jersey and central New York state.

Through a 2013 merger with CTCE Federal Credit Union, Visions now has branches in Reading, Shillington and West Lawn in Berks County and in Allentown and Bethlehem. It has 180,000 members, including 25,385 in Pennsylvania.

“We’ve seen growth over our 50 years, but it’s not how much money we make but how to make the lives of our members a little better,” Muse said.

For example, Visions’ members last year benefited from $20.9 million in givebacks, resulting in lower fees and more competitive loan rates.

“I think in general commercial banks do a good job,” Muse said. “The difference is that we’re a not-for-profit organization, which allows you to have a long outlook that’s not focused on shareowners. That helps improve the financial wellness of each member.”