DEERFIELD, Ill. — San Francisco-based Patelco Credit Union is writing the book this year on the nurturing of SEGs considering its stellar record for the giant Walgreens drug chain as measured in member growth and loan volume.
"It's always been a challenge to get our arms around handling the financial needs of employees and so far we seem to be on track," declared Ed Swanson, the Chicago executive long designated as Walgreens point man for the $4.1 billion California CU.
Indeed, since Patelco won the 1999 bid to offer financial services to the company's 250,000 employees, it has witnessed steady gains in membership, climbing 51% since 2005 along with a 22% increase in share deposits and 28% in loans.
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