Security Service Federal Credit Union opens branch at Park Meadows mall

Business Wire, Oct 24, 1996

DENVER--(BUSINESS WIRE)--Oct. 24, 1996--With the official grand opening this weekend of its branch inside Park Meadows mall, one of the nation's largest credit unions is making its first entry into the metro Denver area.

Security Service Federal Credit Union (SSFCU) is the nation's 16th largest credit union with assets in excess of $1 billion and over 285,000 members. The Texas-based, not-for-profit, member-owned financial institution now has 26 branches, including four in Colorado Springs and three in Pueblo.

"The huge growth we've enjoyed has been due largely to the innovative services we offer our membership," said John Worthington, SSFCU's vice president for marketing. "For example, we have pioneered being located inside major malls so that we are easily accessible to our customers during retail hours, not just banker's hours. That means a consumer can apply for a loan at 4:30 p.m. on a Sunday, if that's the most convenient time."

SSFCU's field of membership at its Park Meadows branch will include retired and active duty military personnel and their families, members of select employee groups and members of certain associations. Persons interested in joining should inquire at the Park Meadows branch to see if they qualify for membership.

SSFCU was founded on Kelly Air Force Base, San Antonio, Texas, in 1956. It opened its first branch in Colorado Springs at Ft. Carson in 1980 and is now one of the largest credit unions west of the Mississippi.

"Unlike many banks, which are eliminating personal service as they move toward consolidation, we put strong emphasis on personal service, while at the same time using technology to provide innovative services," Worthington said. He noted:

-- SSFCU introduced dividend-bearing share draft accounts five

years before banks and savings and loans began offering

interest-bearing checking;

-- SSFCU introduced the nation's first fully customized mobile

branch office in 1991 and added a second branch on wheels to

serve Colorado earlier this year. These mobile offices can

serve members at their workplace or be set up at community

events; and

-- SSFCU offers 15-minute approval of car loans through various

auto dealerships.

"We fully subscribe to a philosophy of the `the member comes first,'" Worthington said. Among the financial services SSFCU offers its members are:

-- 12.50 percent APR VISA Gold and MasterCard Gold with no

annual fee;

-- 13.92 percent APR VISA Classic and MasterCard with no annual

fee;

-- nationwide and overseas toll-free telephone center;

-- global accessibility via Internet e-mail through World Wide

Web Home Page (http://www.ssfcu.org);

-- 60 proprietary ATMs in Texas and Colorado, and over 130,000

network ATMs located worldwide;

-- electronic tax-filing and bill-paying services;

-- full line of insurance products and services;

-- 15- and 30-year mortgage loans; and

-- a full range of consumer loan products, deposit and

investment accounts.

Worthington indicated that SSFCU believes in strong community involvement. In Colorado Springs, he noted, SSFCU and its employees have been involved in such activities as Easter Seals, Scouting, Chamber of Commerce events, serving as mentors for school children at risk, adopting families during Christmas, and various food drives.

CONTACT: Sara Russell/Steve Vieregg, 303/232-3870