There is a new credit union in Columbia with Ferguson Federal Credit Union, located at 609 High School Ave., opening its doors for a soft opening
June 19.
Ferguson’s grand opening is Tuesday with the ribbon cutting ceremony beginning at 10:30 a.m. Fifteen local vendors have donated door prizes to be given away and the company’s mascot, Fergie the frog, will also be in attendance.
The credit union hails from humble beginnings from here in Mississippi, according to Branch Manager Kathy Morgan.
“We’re member-owned, so anyone that becomes a member has ownership in the credit union,” she said. “Our credit union was established in 1968 out of Monticello. We were only in Monticello at Georgia Pacific. That’s how the credit union started; it served the employees of Georgia Pacific. Four years ago when we got our new CEO, Leslie Pitts, it expanded so there’s actually two branches out of Monticello now. She went through the National Credit Union Association to get a field of membership expansion. Now, we have branches in 11 counties and Marion is one of them, along with Walthall, Pike, Jefferson Davis and more.”
Ferguson said her seven-member team is dedicated to helping its customers take control over their finances regardless if they are just starting out or have a long financial history.
“The main thing we try to do is get the customer in and see what their financial situation is and what they’re looking to achieve,” Morgan said. “We do car loans and a lot of refinancing. If they have a higher rate, we usually can beat that rate. We don’t just take credit scores; we look at the whole picture. Everything is on an individual basis. It’s not just, ‘Oh, you have a bad credit score so we can’t help you.’ It’s based on individuality, so we look where they need help whether it be savings, loans or financial counseling to get their credit score up. We have all sorts of loans available to do that. If someone comes in and has no credit established then we have what we call a credit-builder loan. That gives them the opportunity to have a perfect pay history for 12 months to get them started on their journey.”
The new Marion County branch is focused on truly helping its members, making it a personal experience for each and every member.
“We pride ourselves in the customer service we provide at the union, but we also make it more personal like offering financial counseling,” Morgan said. “We differ from banks because they are owned by the stockholders and credit unions are owned by the members. That way we can give lowering borrowing rates and higher savings rates for our members.”
Morgan has been in banking since 1979 and was a branch manager at a previous credit union for 15 years before joining Ferguson two months ago. She said that she takes pride in being able to help members with all of their financial ambitions.
“I enjoy the fact that you can have pride in yourself and the company that you were able to help a young couple just starting out, the grandparents wanting to save for their grandchildren and that new college student wanting to get a car,” she said. “Being able to help people with their financial path and the journey that it takes them from telling them, ‘This is how you get started and this is what you need to do.’”
One of Ferguson’s Columbia branch’s main goals is to reach adolescents early so that they are not blindsided by their impending financial responsibilities.
“Ferguson goes into the schools and teaches students about financial counseling,” Morgan said. “We show them what it is to save money and things like that. We have a Cougar Federal Credit Union in Lawrence County that is inside the schools. We are very big on teaching the children and young adults the importance of learning about financial stability. We are looking to put in a credit union inside one of the schools in Marion County.”
Morgan added that the Columbia team is aiming to become engrained in the community.
“We want to be very involved in the community — I want all seven of us to take part in community events,” she said. “That way, they can bring people in that they know are struggling to get a car or a home. We help every member try to achieve those goals.”
There is also several amenities that are provided to Ferguson’s members through the Columbia branch.
“We have a cash machine that is free of charge for our members, so they are welcome to bring in their change and it doesn’t need to be rolled,” Morgan said. “We encourage youth savings, and we even have youth checking for high school students, starting at age 16. Youth savings doesn’t need a parent to sign, but youth checking does until they are 18. It only takes $5 to join the credit union.”
Ferguson’s lobby is open from 9 a.m. to 4 p.m. and the drive thru is open from 8 a.m. until 4 p.m. Monday through Thursday, while both are open from 9 a.m. until 5 p.m. on Friday.
Ferguson Federal Credit Union can be reached by phone at (601) 587-4037, on its website www.fergusonfcu.org — where people can apply for membership and various loans — on Facebook and it has a mobile app for its members.
Pictured Above: Ferguson employees include, from left, Jessica Bond, Tamara Pittman, Jasmine Evans, Anna Cooper, Kathy Morgan, Leann Wise and Ben Summers. | Photo by Joshua Campbell
