Utilities Employees CU’s Virtual Model Appeals to More SEGs
Sunflower Electric Power Corp. is the latest firm to join Utilities Employees Credit Union, a virtual cooperative with more than $1 billion in assets.
The Wyomissing, Pa.-based UECU said it will offer financial products and services to Sunflower’s 400 employees who serve at power stations and transmission facilities throughout the region. The utility company is based in Hays, Kan.
Formed in 1957, Sunflower provides long-term power supply and transmission services to member-owners, particularly in rural communities, UECU said.
The utility company said its partnership with the credit union was a logical strategy to remotely deliver financial benefits to its team of workers and their families.
“Like Sunflower, UECU is a cooperative – formed to pass collective financial gains and benefits onto our member-owners. Our mission is to improve the financial well-being of our partner companies' workers with financial education and services that are both rewarding and convenient,” said Jane Kennedy, business development manager for UECU.
In 2012, UECU expanded its reach to include the 740 employees of the Alliance of Indiana Rural Water in Franklin, Ind., and the 700 employees of Groundwater and Environmental Services Inc., in Neptune, N.J.
The credit union, which serves more than 44,000 members, said its virtual model helped it reach $1 billion in assets last year. UECU said it has operated without a branch since its founding in 1934.