The Geneseo Federal Credit Union was recently awarded the Sustained Superiority Award, marking over 20 years of quality service to its members.
Bauer Financial, a nationwide company that reviews the financial status of various banks and credit unions, presented the award to the Geneseo Federal Credit Union. It is now recognized as having a five-star superior rating in terms of customer service.
According to Geneseo Federal Credit Union CEO Barbara Dillon, a financial institution must first be awarded at least 73 quarterly recognitions, known as Superior Awards, in order to attain this distinction. Because the Geneseo Federal Credit Union received this award for 78 consecutive quarters, it was granted the Sustained Superiority Award.
Dillon noted that in achieving this distinction, the Geneseo Federal Credit Union is ranked the in the 90th percentile of credit unions for the strength and security of members’ funds.
“It’s a pretty prestigious honor to earn that, particularly after almost 20 years in a row for every quarter,” Dillon said. She also serves as a member of the Credit Union Association of New York’s board of directors.
For several years, the Geneseo Federal Credit Union received first-place awards in marketing and membership satisfaction from the Credit Union Association of New York, which is charged with overseeing the credit unions throughout the state. According to Dillon, it continued to receive these awards until the association stopped producing them for the sake of cost.
The National Credit Union Administration examines the Geneseo Credit Union on a yearly basis. The credit union is scored on a scale of one to five, with a score of one considered optimal.
“We have earned a [score of] one for many years in a row, which is also very unheard of,” Dillon said.
The credit union offers service exclusively to students and staff at Geneseo. According to Dillon, there are currently an estimated 1,325 members and about $5.6 million in assets.
Much of the Geneseo Federal Credit Union’s success has been attributed to the staff’s dedication.
“I take the credit union business as my own personal baby,” Dillon said. “I take a huge interest in it. Over the years I’ve given it my heart and soul. If it means working 60 to 65 hours a week on a 37 and half-hour week, that’s what I do to keep things operational … we have a great staff that serves our members well.”
“I think it’s important that members know that they belong to a … financially sound and secure organization,” Dillon said.