About
Sb1 Federal Credit Union is a Philadelphia credit union that was originally founded in 1977 by the employees of the SmithKline Corporation. Over time we have evolved into a full-service, member-oriented financial institution servicing over one hundred companies across the country and the Philadelphia community.
Philosophy
To provide quality financial services, diverse products, information, and convenience that exceeds your expectations while maintaining financial viability. We are aiming higher every day and providing the best "banking experience" possible.
Service Promise
- We understand that accuracy in transactions and information is expected by our members.
- We follow-up on requests and return calls/e-mails quickly.
- We work to resolve problems with a "can do" solution based attitude.
- We treat members and co-workers with respect.
- We actively listen.
- We do something "extra."
- We keep our promises.
The credit union difference.
Whether you're looking for higher rates, fewer fees, or a safer place to keep your money, Sb1 offers you and your family a great option.
You earn more. The average bank savings account earns less than a third of what we pay out. This big difference is possible because of the credit union difference. While other institutions need to cut back on dividends paid out to customers to maintain profit margins for stockholders, Sb1's only stockholders are our members, so the interests are aligned, empowering Sb1 to keep rates as high as possible for you, the member.
You pay less. Another way for banks and other types of financial institutions to maintain or increase their profit margins is to generate more fee income. By charging their customers more in fees, they generate more revenue that can be used to pay outside stockholders a profit. Sb1 doesn't have this problem. Our stockholders are our members, so we're free to keep fees to a minimum. That means you pay fewer fees.
Safe and secure. Sb1 takes extra precautions with your money. We go above and beyond the normal amount of insurance that is provided on all accounts to provide members with Jumbo Share Certificates $99,000 additional coverage (Excess Share Insurance). This secures Sb1's position as one of the safest credit unions in the country for you to save your money.
A full range of accounts to meet your needs. Through the years we have developed a full line of Accounts to meet all your savings, checking and short-term investment needs.
Our Mission
Our Mission
The purpose of Sb1 Federal Credit Union is to provide quality financial services, diverse products, information, and convenience that exceeds members' expectations while maintaining financial viability.
Our Stategy
Our Strategy
Sb1's strategy is to take care of our stakeholders, provide superior service, develop a strong brand, and remain profitable.
The management team at Sb1 recognizes the importance of articulating a specific strategy over the next few years based on market conditions and consumer trends as well as the capabilities of Sb1. Sb1's strategy involves an emphasis on four specific areas that we believe are essential to our success and the benefit of our membership: caring for stakeholders, service, brand, and profitability.
Each segment of our strategy is detailed below:
Take Care of Our Stakeholders
There are three Stakeholders in Sb1--the Members, the Staff, and the Institution itself. This portion of our strategy will require that we pay attention to both Members and Staff. We must move staff to become "advisors" as opposed to "filling orders". Members will benefit if we keep their best interest as our priority. Implementation of a Sales & Service culture over the next 3-4 years will benefit all Stakeholders as well as support other segments of our strategy.
Provide Superior Service
Continual focus on great service to distinguish Sb1 from other financial institutions.
Develop a Strong Brand
Review our current brand and revise, as needed, to strengthen our market position and reputation.
Remain Profitable
Our target return on assets is 80 to 100 basis points. We must focus on both sales (income) and expenses, as well as growth to achieve our goal.
Newsletters
MoneyTalk Newsletters
MoneyTalk is Sb1's quarterly newsletter. Topics include timely financial advice and updates about our products and services.
To view a copy of our most recent edition of MoneyTalk in PDF format, click here.
You can also view archived MoneyTalk articles available below in PDF format:
2013
Spring 2013
2012
Fall 2012
Summer 2012
Spring 2012
Winter 2012
Annual Report
Sb1 Annual Report
To view the 2011 Sb1 Annual Report, click here.
Community Involvement
Sb1 Awards 5 High School Seniors $1,500
[May 2013] Sb1 has awarded college scholarships to Eileen Mei Butler, Rikki Yin Li, Catherine Rose Roerden, David Selverian, and Peter Wang! Each of these college-bound high school seniors received Sb1 scholarships in the amount of $1,500!
Sb1 Donates Treats To The Pennsylvia SPCA
[April 2013] Sb1 donated treats to the Pennsylvia SPCA. The PSPCA recently added Sb1 as an added benefit to their employees!
Sb1 Fights Hunger!
[February 2013] Sb1 donated money to the Coalition Against Hunger. Check our Facebook page to see how much we donated.
