As a part of the Farmers family, we’re uniquely positioned to help agents meet their financial goals, but don’t just take our word for it. We asked Farmers Insurance Agent Ronald Osborne a few questions about his experience with the Credit Union and, well….just keeping reading to hear his response.
At what point in your agent cycle did you join the Credit Union?
I was a Farmers Insurance Agent for about 10 years before I realized what I was missing by not being a member of the Credit Union.
What kind of accounts/services do you have with the Credit Union?
I had an expansion loan with another Financial Institution (FI) that I transferred to the Credit Union – for better terms! I also have a Visa Credit line, Checking and Savings accounts and an HSA (which the other FI stopped offering because it wasn’t profitable for them).
If you have an agent-specific product, what was your reasoning for opening that account?
Since the Credit Union knows all about how Agents do business with Farmers, it just seemed natural to move my financial needs here. Having my loans managed by the Credit Union has just been simpler and more beneficial to me.
How has the Credit Union helped your business’ finances?
All Agents know that Folios are rarely the same month to month. Having my accounts with the Credit Union helps me better manage my finances because they understand the nature of our cash flow.
Has your business grown since dealing with the Credit Union?
Yes! By partnering with the Credit Union, I was able to hire 3 people AND purchase an agency. My PIFs doubled to 3,000+!!! This couldn’t have happened without the Credit Union’s help.
What would you tell other agents about your experience with the Credit Union?
Wow, where do I start? I think the most important part of my relationship with the Credit Union is having access to empowered decision-makers. The reason the process of obtaining loans with the Credit Union is faster and easier is because they have direct access to Farmers, so they can get financials much quicker than other FIs. Having this kind of direct access is invaluable to help grow your agency.
In the future, do you plan on continuing to do business with the Credit Union?
In your opinion, what separates the Credit Union from other banking institutions?
Since the Credit Union is member-owned and doesn’t have to answer to a share price, they look at each individual loan/account and make decisions based on the member. The Credit Union clearly has a much better understanding of an Agent’s needs than any other FI.
So if you need office space, are looking to expand your agency, or just want a little extra cash, the Credit Union should be your first stop. We’re not just a credit union; we’re your Credit Union!