The move from physical to digital has transformed human life over the past decade. The next evolving thing is banking. Credit unions and banks are more digital than ever before and Vibrant Credit Union (headquartered in Moline, Illinois and with locations in Iowa and Illinois) is trying to lead the charge. Chief Administrative Officer of Vibrant (and Solon resident), Marsha Wolff said, “People just aren’t going to branches anymore. They want to do everything on their phones and/or easy and simple.”
The credit union was founded in 1935 and had roots in agricultural manufacturing. Originally, Vibrant was known as Deere Harvester Credit Union. Wolff believed that the name change was needed to be more inviting to people who are not employees at John Deere.
Vibrant is now making strides to be one of the leaders in digitizing credit unions. They have an app that allows for mobile banking, as well as an interactive teller machine (ITM) which allows for interaction with a video banker or use as an ATM. They also allow for banking through a call center. They aim to make banking as easy as it can be.
The ITMs are placed in Vibrant’s Coffeehouse + Kitchens in Bettendorf and Waukee. Wolff said, “We are going to continue to open coffee shops,” she said noting the coffeehouses are a way for Vibrant to remain connected to their communities.
Vibrant is not only focused on digitizing their product, but they also take pride in the rates they can offer. They offer high rates of up to 4-4.5% for a savings account and up to 5.75% for a nine-month CD and up to 5% for a 30-month CD. When compared to other local banks and credit unions, these rates are higher than most. The average rate for a savings account in America is .45% according to Business Insider. “We continue to make innovative changes to put the money back in our rates/members’ pockets,” said Wolff.
Vibrant also focuses on having a positive impact in the community. They have a slogan, “Be The Good,” that they try to live up to. They support nonprofits and local associations through the Community Deposits program and will be launching the Be The Good Foundation which will allow them to put more resources back into the community.
Vibrant Credit Union is federally insured by NCUA.
For more information:
Website – www.vibrantcreditunion.org
Email – [email protected]
Facebook – www.facebook.com/VibrantCreditUnion
Instagram – www.instagram.com/vibrantcreditunion
Linked in – www.linkedin.com/company/vibrant-credit-union/
Accelerating the evolution of banking
June 26, 2024
Marsha Wolff, Chief Administrative Officer, Vibrant Credit Union
