Money Matters
Story by Melanie Jones
You pull up to an ATM, insert your card, punch in a few numbers and cash magically appears. You apply for a loan, a banker types in your details, runs a credit check and, almost instantly, you get a yeah or nay. You capture an image of a check, click a few buttons on your phone and the amount appears in your checking account.
The internet makes all those tasks and more possible. And fiber broadband from Peoples means it all can happen at lightning-fast speed.
YANTIS FEDERAL CREDIT UNION
Technology has transformed the banking industry since Yantis Federal Credit Union opened its doors in 1955. “We went from pen and paper to everything is computerized,” President Shelly Ogle says. “We’ve been with Peoples since 1961. With their help, we’ve been able to keep up with the ever-changing technology.”
Credit unions are not-for-profit, which Shelly says helps Yantis Federal Credit Union live up to its motto—people helping people. It serves about 2,000 members in Wood, Rains and Hopkins counties.
Membership seems to be generational. “When one family member joins, we generally get their children and grandchildren as well,” Shelly says. Thanks to technology from Peoples, the credit union can serve every generation in the way they’re most comfortable.
“Peoples has been very integral when the ATMs came out, going from landline to fiber optic. When you’re in the financial sector, you have to have secure networks. Peoples has helped us migrate through all of that,” Shelly says. It also helps the credit union meet the requirements of credit card companies over the interchange system. “So, we really appreciate Peoples,” she says.
The credit union offers a bit of everything. It has checking and savings accounts, debit cards, mobile banking and online banking. It provides consumer loans and mortgages. “We have just about everything that a bank would use, except you have to live, work or worship in Wood, Rains or Hopkins County to become a member of the credit union,” Shelly says.
FIRST NATIONAL BANK OF WINNSBORO
Banking Officer and Marketing Director Rusdon Mills and Senior Vice President of Operations Travessa Tinney say First National Bank of Winnsboro and Peoples have something in common—they both strive to provide the best customer service around.
“We still answer the phone,” Travessa says. “We don’t have automated systems. We just want that personal touch.”
Though the bank has grown since it was founded as M&P Bank in 1893, it retains a hands-on approach. “Our goal and focus is still to be the hometown bank for the Winnsboro community,” Rudson says. “Whereas most banks are trying to grow and get bigger, we’re staying true to Winnsboro. We just take care of the customers we have and support the town the best we can.”
But that doesn’t mean First National’s business operations are stuck in the past. “We invest heavily in technology so that we are competitive,” Travessa says. “We’ve got Apple Pay and Google Pay, and we were one of the first ones to have contactless chip cards in the area.”
First National has been a Peoples customer since the mid-2000s, and Rudson and Travessa say it’s been a great help. The bank started with Peoples’ telephone service and moved to high-speed internet service.
“We love them so much,” Travessa says. “It’s so nice to have a person you can call directly.”
Rudson says there are always telecom companies that want to do an analysis and see if they can save the bank money. “I’ve done it once or twice,” he says. “They can’t touch the price or service Peoples provides.”
BROADSTREET BANK
Broadstreet Bank’s journey with Peoples began with COO Haskell Strange’s personal experience. He had Peoples services at home and wanted them for the bank as well, but Peoples didn’t serve Broadstreet’s area at the time.
When he caught wind of Peoples fiber expansion plans for Mineola, he was quick to support the move. Broadstreet Bank partnered with the city to bring Peoples’ service downtown.
“Speed always helps,” Haskell says. And Peoples’ speed can’t be beat. “We have to have internet for everything we do.”
Just as technology has changed over the years, so has Broadstreet Bank. It started in 1934 as Mineola Savings and Loan. In 1990, it changed to Mineola Community Bank, and four years ago its name became Broadstreet Bank after it went public.
Haskell remembers when the bank had a dial-up internet connection, and he’s pleased with the transitions to cable and eventually fiber internet.
High-speed internet helps the bank provide services it otherwise couldn’t. Haskell says the bank uses the internet for “everything we touch.” The bank sends wire transfers via the internet, and even the debit cards rely on it. “We couldn’t offer them if we didn’t have a good connection,” he says. “If we didn’t have internet connection, we couldn’t function or help our customers.”