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Southwest 66 CU CEO Excited about Growth in Local Economy
Friday, September 20, 2013 7:00 AM

In response to a report in yesterday’s Leaguer that Midland/Odessa is leading economic growth for U.S. metro areas in 2012, Southwest 66 CU President and CEO Sean Cahill says they are very excited about the economy in their local community.  

“The oil and gas industry is booming, the support services for this industry are booming, causing rapid growth across the board,” he says.  “This is driving new retail, new residential, and a host of opportunities for our credit union to serve new and existing members.” 

According to Cahill, Southwest 66 CU has seen nearly a 12 percent net growth in loans over the last year.  Membership growth is equally as strong.  

“We have rolled out several new products in this last year including a new mobile application and a Rewards Credit Card to better give back to our members,” notes Cahill. “We will be launching shared branching in the fourth quarter to both serve credit union members moving into our area, and serve our members that have transitioned out of the area.” 

Cahill says one of their proudest and most exciting accomplishments this year is receiving the Cornerstone Credit Union League’s Juntos Avanzamos designation.  

“This demonstrates our commitment to the growing Hispanic population and delivers on our promise of financial literacy and education to all demographics of our membership,” adds Cahill.

“Cornerstone has been instrumental in helping us achieve our goals in this worthwhile endeavor.”

A Juntos Avanzamos flag raising ceremony will be held at Southwest 66 CU Oct. 24. 

With the Hispanic population expected to approach 70 percent of their local community in the next six to seven years, Cahill says it is more important than ever that they develop products to serve their ever growing needs.  

“We are very excited to roll out our new citizenship and quinceanera loans at the beginning of next year,” continues Cahill. “We have also partnered with local Hispanic churches to build an affinity card for them that gives back every quarter to the church based on usage by their members.”

Cahill says he’s very appreciative of the collaborative spirit that exists between the credit unions in the Permian Chapter of Credit Unions. According to Cahill, he meets regularly with a number of CEOs in the area, including Jason Berridge, Complex Community FCU; Ronny Haynes, Southwest Heritage CU, and Donna Neal, My Community FCU, to share ideas and best practices.

“We have a very creative group, and together we strategize on how we can work more effectively together in order to better serve our community,” says Cahill.

Helpful links:

Juntos Avanzamos
Remote Transaction Services
Chapters Program