oneononeericWRIGHT With Community Credit Union President David Brock Cooperatives


or “co-ops” have long been a way for the


smaller entities to pool their resources in order to enhance their economic clout. Grower’s co-ops built the Florida citrus industry, while farm co-ops allowed the family farmer to process and market their products. In some parts of the country co-ops even provide electrical power. Probably the most prolific example of the cooperative’s strength is seen in the thousands of member-owned, member-led banking co-ops we call credit unions. Spacecoast Business discussed the phenomena of the credit union and why Community Credit Union has been so successful with its president, David Brock.


SCB: What is the major difference between a credit union and a typical bank?


DB: A credit union is owned by its members and is accountable to them. Each person that opens an account becomes a member and then has a voice in the orga- nization’s management through scheduled meetings. Even our Board of Directors is made up of volunteers. Since we operate as a not-for-profit, we don’t exist to make money; instead our sole purpose is to serve our members by returning our profits to them in the form of highly competitive rates and member services.


SCB: How does a credit union’s community connection enhance its ability to serve its customers?


A respected author and speaker,


Eric Wright is the assignment editor for Spacecoast Business magazine.


“We operate as a not-for- profit, we don’t exist to make money; instead our SOLE PURPOSE is to SERVE OUR MEMBERS.”


66]0CTOBER2010 spacecoastbusiness.com


“Customer loyalty and customer referrals continue to account for our STABILITY and our GROWTH.”


more COST to comply with those regulations.”


“The dilemma we face is that with MORE REGULATIONS, there is


PHOTOGRAPHY BY TIM WOOLEY


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