Business Inspires Episode 2 - Wright Patt Credit Union

This Business Inspires podcast features a conversation with Scott Everett, General Counsel, and VP of Business Services at Wright Patt Credit Union (WPCU).

Wright Patt Credit Union (WPCU) is back in Columbus, with 5 branches in the Columbus metro market. TriVillage Chamber Partnership’s Executive Director Michele Wilson’s guest is Scott Everett, General Counsel, and VP of Business Services.

The move back into Columbus was decided upon by the WPCU members living in the Columbus market.  From a poll of WPCU members, it was overwhelmingly agreed upon that WPCU should open branches in the Columbus area.

To enter back into the Columbus more effectively, a market leader was hired.  Tammy Jones is a Columbus native, and provides WPCU that local presence and insight to stay connected in the community.

To address the fast-paced growth of Columbus, WPCU had to establish a “footprint” in the market, what WPCU calls a “hub and spoke” model.  This model started with one large traditional branch location and then build four around it, establishing a network effect.

In the last 12-18 months, WPCU has modified its approach to serving a younger, technological savvy demographic. Their focus has turned to

1. Mortgage lending, primarily first-time home buyers
2. Business lending

WPCU is a financial cooperative, in fact Ohio’s largest, with over $3.4 billion in assets.  As a financial cooperative, anything WPCU makes above and beyond what is needed to operate business and have adequate capital is given back to the WPCU membership.  In 2016, $8 million was distributed to WPCU members.

What makes WPCU a great place to work?  WPCU offers its employees one of the richest benefit packages, with strong healthcare incentives and retirement programs; an emphasis on promoting from within; educational benefits to help with career advancement; and a philosophy of “work to live,” where family and work are both important for the success of employees.

Giving back to community is important for WPCU.  Every year during the Employee Day celebration, two charities are highlighted and supported during the upcoming year.  $150K to $200k per year is raised through employee fundraising events.  WPCU is always looking for more opportunities in the Columbus market from community partners.

WPCU has been undergoing a re-focus on Small Business lending, called Member Business Services.  In the past these loans have been outsourced.  With larger banks becoming more fickle with the loans they originate, WPCU has seen an opportunity to work with smaller businesses, building a relationship approach; not only lending, but also engaging is full financial relationship.  

WPCU has a system in place, similar to what you see on the internet with marketplace lenders.  If you have a business loan request up to $250k, WPCU has an automated scoring tool that is used, making the application simple, and funding as quick as three days.

WPCU will never revoke their commitment to lend to a small business simply because the whims of the market. It’s about helping businesses grow and promote job growth.

WPCU has over 300,000 members and 760 employees. 31 branches in Ohio, with five in Columbus metro area.

--------------------------------------------------------------------------------------------------------------------------

With more than 60 years as an integral part of the Grandview, Upper Arlington and Marble Cliff communities, the TriVillage Chamber Partnership is dedicated to a singular purpose - the success of the business community.

To schedule a guest appearance, or find out more about sponsoring Business Inspires, send an email to michelle@chamberpartnership.org

Please take a moment to rate and review our podcast in iTunes.  That helps us spread the word about Business Inspires!

TriVillage Chamber Partnership
Destination Grandview
Wright Patt Credit Union

Podcast affiliate of Circle270Media Network