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6801 Parkwood Boulevard, Plano, TX 75024 • 800-442-5763 • www.swcorp.org
Like so many credit unions, America’s First
Federal Credit Union in Birmingham, Alabama, started
life simple. When it began in 1936, the Iron & Steel
Workers Credit Union operated out of a cigar box.
But like so many credit unions, America’s First
had to change with the times—it changed its name,
opened a real office, and added services to keep up with
an increasingly sophisticated membership.
Kathy Baggett has been in a position to witness
many of the changes. Now the vice president of finance,
Baggett has been with the credit union for 35 years.
She saw the credit union’s transformation from the
simple to the complex. More services. More technology.
And more staff—growing from the one office and 30
employees when she first joined the credit union to the
17 branches and 250 employees that now serve as the
backbone of the $750 million credit union with some
Amid the changes and challenges, there has been
one constant: managing the credit union’s bottomline—a
task made even more difficult when margins are squeezed.
That’s where Southwest Corporate Federal Credit Union
was able to make a significant difference.
Baggett said that Southwest Corporate’s Denise
Hill called on America’s First to discuss moving their
settlement account to Southwest Corporate Federal
Credit Union. “Denise gave us a proposal and provided a
side-by-side comparison. When she showed us how much
we could earn by switching our settlement account to
Southwest Corporate, we were stunned,” Baggett said.
Not only could America’s First generate an
additional $8,000 per month, but Southwest Corporate’s
funds transfer deadline was later in the afternoon
than America’s First’s previous provider.That allowed
the credit union to more
accurately assess its daily
cash needs. “We replaced
guesswork with certain