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A Few Questions with the President of Central Star Credit Union

17 Jun

Lee Williams is the current President of Central Star Credit Union. We caught up with her and had her answer a few questions.

Why were you interested in banking as a career?

I wasn’t. I thought banking would hinder my creative side and I wanted to help people. Once I started, I discovered how wrong I was. Banking offered me the chance not only to create, but to really help people change their financial lives. Impacting, not only, their futures but generations.

What do you think are the three most important things someone should know about their finances?

Where are you financially (debt to income ratio, interest rates you are paying and credit score)?  What do you want financially (goals)? A plan to get there. Or, how much is coming in, how much is going out, and what that means to your future.

What are the best/easiest ways to improve credit scores quickly?

Knowing the right combinations of credit to have. Which debts to pay. Paying installment loans like car, house, and credit cards on time, even if already past due.

What advice do you have for someone who is afraid to apply for a loan due to bad credit history?

Ask before you apply. Visit with someone at a financial institution. Explain your situation.  We have solutions and options you may not be aware of.  It is much easier to get a yes, if you have a roadmap and someone on the inside working for you.

Why choose a credit union over a bank?

I maybe biased, but I have worked for both. Credit Unions are member-owned financial cooperatives; if you use us you are an owner. When individuals pool their funds for the betterment of the group, good things happen. Credit Unions are about “People helping People”.  Earnings are given back to members in lower loan rates and higher dividends, not stockholders.

What celebrity needs a financial planner?

Any one past, present or future who thinks their stardom is bigger than the IRS. Seriously, Blu Ivy, keeping track of her net worth and managing her brand would already take a full-time employee.