SESLOC President & CEO Announces Retirement

From Your CEO — Winter 2024

January 2, 2024
by Geri LaChance, President/CEO

The new year is a special time–a chance to reflect on the accomplishments of the previous year and establishing milestones for success in the coming year.

At the time of this writing in late December, we are in the midst of a vote of the members to convert to a federal to state chartered credit union. We are truly humbled by the participation of those who attended our Town Hall Q&A in December and asked thoughtful questions — this demonstrates how much you care about the future of our credit union and its role in improving financial health and wellbeing of our community and in providing fair-priced banking services. This process is also an embodiment the credit union difference — as a member of our financial co-operative, you have the privilege of voting on changes such as this, that would expand our footprint to more counties in central California, so that we may welcome more like-minded residents to share in the member benefits you receive. Our recommendation is in favor of the change, whereas we are perfectly positioned to use economies of scale to accommodate more members, offsetting the increasing costs of regulatory compliance and cybersecurity programs, plus the costs of new and improved digital banking tools and member services. We look forward to announcing the results of the vote in mid-January.

On the note of digital enhancements, I know many of you are eagerly anticipating the restoration of your Bill Pay services to our former service provider. Trust that we are diligently testing the system to ensure it meets your  expectations. One of the benefits of our new Online Banking platform is the ability to provide new features and tools in what developers refer to as short “sprints,” so that you may easily digest one small change at a time. While change can be uncomfortable at times, we resolve to introduce meaningful innovations at a nominal pace that ensures our credit union is financially strong, safe and sound for generations to come.

I’d like to take a moment and acknowledge the SESLOC Cares for Community award winners, who were selected by local nonprofits as top volunteers making a difference in their organization. Because of your dedication and hard work, our community is brighter and tighter, together — you are a reflection of the People & Place that make the Central Coast a great place to live. 2023 was the inaugural year for this award, and we’re excited to continue honoring more volunteers in the coming year.

At SESLOC, we’re proud to be a part of something bigger than ourselves, united by a common goal of making a positive impact in our community. We know you have a choice in your financial partner, and are grateful for your continued support as we forge ahead in the new year.


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