San Antonio Citizens Federal Credit Union welcomed a new CEO/President to the helm a month ago.
by Gary S. Hatrick
Steve Shaffner, 48, took the reins of the 70-year-old Institution in July.
Shaffner hails from Galax, VA, but he and his family came to Pasco County from Charlotte, NC where Shaffner was COO of Sharonview Federal Credit Union. He worked there for 17 years working himself up through the ranks.
The newly installed CEO earned his Bachelor of Applied Science degree in Business/Corporate Communications from Old Dominion University and his Master of Executive Leadership, Business Administration and Management from Liberty University.
Shaffner is looking forward to the future of San Antonio Citizens Federal Credit Union. “I’m really excited about this opportunity because we’ve got just a phenomenal team and an amazing base and foundation to build off of,” he said. “I want us to continue to hold on to what we do well. What differentiates us is that we are a community. We’re rooted in the community. We really are a part of the communities that we serve in Eastern Pasco County. I would love to see us continue to build on that, but I would also love to see us move into the future a bit more. We want to hold on to the community aspect and the small town feel aspect but also be able to offer more innovative products and services.”
Many may not know the difference between a bank and a credit union. Shaffner points out some of the contrasts. “The first thing you’re going to see is lower fees on average than at a bank. A credit union is a not-for-profit institution, so everything that we take in, we reinvest in the community, we reinvest in our membership, versus a bank which is a for-profit institution. We don’t have shareholders, so we are more interested in how we support each other. Our members are actually theowners of the credit union.”
“You typically see lower rates on your loans,” Shaffner added. “You typically see higher rates on your deposit products than what you would see in a bank. Then there’s the intangibles, too. Honestly, as a small community-based institution we’re able to make decisions at times that a larger institution would not be able to make. We have a little bit more flexibility than you might have at a larger institution. Credit unions are excellent to work with, and they really do try to help people out. They’re just in it for the right reasons.”
Membership in the Credit Union is $5. There are no minimum deposit requirements. “That’s it,” Shaffner said. “You put $5 in a share account and if you keep that $5 in, you’re a member. Once a member, always a member and if you ever decide you don’t need your membership any longer just withdraw your $5. That’s it.”
Credit unions have the same services as banks, Shaffner said. They have checking accounts, debit cards, mobile apps, and grant home loans and car loans.
“Actually, the more that you use us, the more engaged, more active you are as a member, the more you get in return,” Shaffner explained, “such as higher deposit rates and things along those lines. We call it internal relationship pricing - the more active the relationship, the more you get in return as a member.”
Shaffner enjoys working in the financial world and especially in credit unions. “The thing I love about it more than anything is just the people and being able to help people reach their financial goals,” he said. “And on top of that, to help your employees reach their goals-seeing them grow, seeing them learn new things. To me, that’s what it’s all about.”
Shaffner lives in Wesley Chapel with his wife of 23 years, Jana, and their 14-year-old son, Seth. When Shaffner is not in the big chair at the credit union, he likes to spend time at home with his family and work on projects. “I love to spend time with my family. I especially love the satisfaction of tackling a home improvement project together. There’s a special satisfaction from transforming a space or crafting something yourself. Those are the things I enjoy the most.”
According to the SACFCU website, “San Antonio Citizens Federal Credit Union is a not-for-profit financial institution, federally chartered on December 12, 1955. Joe Collura, Joe Herrmann, and fellow community members founded the Credit Union with the commitment to promote the financial success of community members. Today, it is the longest-operating financial institution in Pasco County.”
You can learn more about San Antonio Citizens Federal Credit Union by visiting the website at sacfcu.org or call (352)-588-2732.
You can also visit one of the branches in San Antonio, Dade City, Zephyrhills, or Wesley Chapel.
