4 minute read
Letter from Chairman of the Board, Mike Strickland
Brian McKay
PRESIDENT & CEO
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IF I HAD TO SUM UP 2021 IN ONE WORD, it would be community. Community is built on unity — people joining together with a common goal or mission. This is what started the credit union movement many years ago. As a credit union, this is part of our DNA — a trait we’ve coined cooperative spirit that simply means people helping people.
For our members and staff, Spero is a community — one made up of diverse individuals from all walks of life, coming together with a mission to improve financial lives. By doing this, not only do you, our members soar financially, but our communities become greater places to live, work, and play.
Speaking of community, in early 2021, we completed our partnership with Anderson Federal Credit Union. I encourage you to read Board Chairman Mike Strickland’s letter for a full summary of how this partnership created a powerful synergy for our employees, members, and community.
2021 was also a year of strategic planning for our organization. Together with our Board of Directors and leadership team, we identified three key focuses that will carry us into 2024 and distinguish our credit union in the markets we serve: (1) providing an enhanced member digital experience, (2) delivering exceptional personalized service, and (3) making a significant impact in the communities we serve.
We’ve all experienced the transformation that technology has had on our daily lives. At Spero, our intention is to provide the convenience of digital services, while maintaining the personalized connection you have come to love. (Yes, we will still know you by name!) convenience of an ATM — including expanded options such as cash/check deposit. We also extended TellerLink banking hours, so you can speak with a teller before/after work. If you haven’t had a chance to use TellerLink, I encourage you to do so! It’s now available at all Spero branches.
As I mentioned above, community is part of our DNA. This year alone, we had the opportunity to contribute over $153,000 to 18 local non-profits to support food insecurity, affordable housing, and more. We also made a significant contribution to Anderson University to support Trojan Football on Spero Financial Field, adopted the 8th Cooperative Principle of Diversity, Equity, and Inclusion, and participated in over 26 community events.
I encourage you to turn to page 8 to learn more about our community impact, as well as view how we’ve helped our members soar financially in 2021!
As I close, I would like to thank you for your ongoing loyalty and trust in us; our staff for their continued dedication to our members; and our volunteers for their invaluable guidance in moving our credit union forward. Like the sparrow, we are stronger together! Our credit union not only remains financially strong to handle the uncertainties of the world today, but we also remain optimistic of our bright future ahead.
One way we have already started pairing Digital Experience with Personalized Service is through TellerLink! Launched in fall 2021, this new technology allows you to enjoy the personal connection of a real teller with the
It is both a privilege and an honor to serve you! I appreciate you.
Mike Strickland
CHAIRMAN OF THE BOARD
BETTER TOGETHER! While this is not true all the time (think oil and water), it certainly fits the partnership of Spero Financial and the former Anderson Federal Credit Union (AFCU). The merger of these two great institutions in February 2021, was the culmination of years of ongoing dialogue between the management teams of the two credit unions. From the outset, the overarching goal was to ensure there would not only be a financial fit but also a strong cultural tie between the employees and members of a combined organization. Success would be measured by a partnership that was GREAT for three key groups: • Employees • Membership • Community
All former AFCU employees were equipped with more resources, data systems, and tools to better serve Spero’s members. In addition, employee compensation, benefits, and career opportunities were protected, and in many cases, enhanced.
Members now have greater lending and share deposit opportunities. In addition to digital banking services, members now enjoy access to ten physical branch locations across our service area from Anderson to Spartanburg. Average share per member has grown, as well as the number of Spero services used by the member.
Community impact was incredibly positive. The market presence and brand recognition for Spero Financial continues to significantly expand throughout Upstate South Carolina. Our support of Anderson University, as well as several charitable organizations in the community have fostered our reputation as a caring organization.
Without a doubt, the partnership between Spero Financial and the former Anderson Federal Credit Union has proven that we are better together. In the 1990s, a catchword was circulating throughout the business community and being adopted as a key to success: SYNERGY — the interaction or cooperation of two or more organizations produces a joint effect greater than the sum of their separate efforts (2+2 = 6).
The synergy produced when AFCU joined Spero Financial has proven that we are better together and well prepared to soar in 2022 and beyond!
