CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » PODCAST: Putting members first
Lending Sales & Service Podcast

PODCAST: Putting members first

‘People should use their money the best way they can,’ says KCT CU President/CEO Mike Lee.

April 18, 2019
One Comment
Mike Lee
Mike Lee, president/CEO, KCT Credit Union

Mike Lee has an interesting take on debt for a credit union CEO.

“It’s not ok,” says Lee president/CEO of KCT Credit Union in Elgin, Ill. “It’s money you’re throwing away.”

His rationale: “If I get you out of debt, you’ll tell 10 people. There’s plenty of debt for us to make income. What’s amazing about this approach is that it’s contagious.”

KCT goes the extra mile to reduce members’ debt burden. Among its offerings is the GOOD (get out of debt) Loan, a low-rate, three-year unsecured loan designed to attack credit card debt.

The $250 million asset credit union also conducts “debt check-ups,” where it reviews members’ loans to see how it can save them money.

“Ninety-nine percent of the time we save them money,” Lee says. “People work hard in life. They should use their money the best way they can.”

In this episode of the CUNA News Podcast, conducted during the 2019 CUNA Governmental Affairs Conference, Lee addresses KCT’s community service and financial literacy efforts, its focus on select employee groups, and how it puts members’ needs first.

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Spotify, Google Play, and Stitcher Radio.

KEYWORDS credit union financial literacy Mike Lee Podcast

Post a comment to this article

Report Abusive Comment

Credit Union Magazine - Spring 2021

Spring 2021

Credit Union Magazine’s Spring 2021 edition features CUNA's 2021 advocacy agenda, strategic planning guidance, and labor market insights.
Digital Edition •  Subscribe

Trending

  • PCA flexibility coming soon from NCUA

  • CFPB proposes delayed effective date for recent debt collection rules

  • CUNA leaders talk CFPB supervision compliance details

Tweets by CUNA_News

Polls

How have vaccination efforts affected your remote work policy?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors