EP# 126 - Exploring the World of Premier Banking with Kristy Kemnic-Nicol

Navigating the financial waters can be daunting, but Kristy Kemnic-Nicol from Lake Michigan Credit Union-Estero casts a lifeline to those looking to swim with the big fish in the banking pond. On the Good Neighbor Podcast, Kristy unveils the Premier Banking Program designed for the financially savvy, and those aspiring to be, detailing how the program's higher checking rates, lower loan rates, and potential 100% mortgage financing can buoy your bank account. But it's not just about the numbers; this episode is infused with the warmth of community and the touchstone of personalized service, reminiscent of a time when your banker knew more than just your balance.

Kristy's story is more than just a professional narrative; it's a poignant tale of resilience and transformation. After a personal tragedy, she grasped the lifeline of financial guidance, an experience that not only fortified her own future but also ignited her commitment to extending that same support to others. Through candid conversation, Kristy dispels myths about Premier Banking, demonstrating that it's accessible to more than just the ultra-wealthy, and underlines the power of nurturing a relationship with your financial institution. Tune in for an episode that promises to enrich your mind and maybe your wallet too, with insights from a financial guide who’s walked the path of uncertainty to emerge as a beacon for others.

LMCU - Lake Michigan Credit Union - Estero
Kristy Kemnic-Nicol
21910 S Tamiami Trail
Estero, FL 33928
239-908-5894
239-314-0542
kristy.nicol@lmcu.org
WEBSITE

Transcript

Speaker 1: 0:00

This is the Good Neighbor Podcast, the place where local businesses and neighbors come together. Here's your host, Cabo Jim.

Speaker 2: 0:08

Schaller. Welcome Good Neighbors to episode number 126 of the Good Neighbor Podcast, estero. Today we have Good Neighbor Kristy Kemnic-Nicol from Lake Michigan Credit Union here in Estero Welcome.

Speaker 3: 0:23

Thank you, glad to be here.

Speaker 2: 0:25

Yeah, excited to learn a little bit more about you and the Lake Michigan Credit Union. So let's start off by why don't you share a little bit about what you do over there?

Speaker 3: 0:36

Well, here at Lake Michigan Credit Union we have a department that specifically specializes in our higher net worth clients that have an exclusive banking relationship with us, and it allows them to have several different perks in our premier banking program.

Speaker 3: 0:56

And what I hear most from people is they love the fact that they get higher rates on their checking account, lower rates on loans. They're also allowed to finance up to 100% on their mortgage if they are a premier banking client and qualify for that. And, of course, they get a lot of other freebies free safety deposit box, specialized check covers, robbers. They get a special limit for their credit cards that others do not qualify for if they're not in the Premier Banking Program, and we specifically give that specialized service. So if we have somebody that is a business owner and they can't get away from their business and they have a banking need, we will go straight to them, and I can honestly tell you that I love working with our premier banking clients. They know our names, they have our cell phone numbers, so if something happens after hours, they can call us whenever they need us Back to what banking used to be right.

Speaker 3: 2:03

Exactly, exactly.

Speaker 2: 2:06

So how did you get involved in this industry?

Speaker 3: 2:09

You know, I started out in the banking industry 32 years ago. I started out as a teller on the teller line and worked my way up through the system assistant manager, branch manager. At one point I was the head of retail for a larger bank and 13 years ago I found my way to Lake Michigan Credit Union and the feeling here is I feel like I'm part of a big family. They care about their members, they truly care about their employees, and I think that that's really reflected in the way we interact with the members that we serve in the communities we serve.

Speaker 2: 2:50

And that is great. So you're not from here originally, then, are you?

Speaker 3: 2:54

No, I'm not. I actually was born and raised in Michigan. I moved to.

Speaker 2: 2:58

Mitten. We're in the Mitten right.

Speaker 3: 3:00

And that's where the Lake Michigan Credit Union part comes in for me, and that's where the Lake Michigan Credit Union part comes in for me. And eight years ago I moved here and started working in the Wealth Management and Premier Banking program and I absolutely love it here in Florida.

Speaker 2: 3:20

Yeah, we all love it down here, don't we? So everybody's had some type of I'm going to say challenge or maybe obstacle along their journey that they can look back at now and say you know what I'm better because I went through it. Is there something that happened along your journey?

Speaker 3: 3:34

Yes, something very specific At the age of 21, I had only been married three and a half years, had a small baby and my husband was killed in a hit and run driving accident. And I can tell you, at that young age I had to rely on somebody to help me financially because, honestly, at the age of 21, I did not have a clue. Have a clue and somebody that guided me through that process and helped me invest life insurance money for later on down the road for my daughter, and that really helped me understand how important it is to have somebody in your life that can help you financially, not just with that day but throughout your future, to help keep you financially sound. And I really believe that's what led me in this direction.

Speaker 2: 4:35

That's you got to have. You know there's a little passion involved there and a little willingness to help, and you know for people to avoid you know what you might've gone through if you weren't, weren't prepared or didn't have the people right People around you.

Speaker 3: 4:48

Exactly.

Speaker 2: 4:49

So are there any maybe myths or misconceptions surrounding the what you do that maybe we could clear up for our listeners?

Speaker 3: 4:59

Yes, I think probably one of the biggest misconceptions that people have about premier banking or select banking when they hear the name is they think that they have to be uber rich to participate in a program like that.

Speaker 3: 5:12

And our program does not require you to be uber rich. It's really more about building a full relationship with the credit union. Most of our members here in Florida qualify because they have checking with us, savings with us, certificates of deposit. Some have wealth management relationships, but they're not uber wealthy. You don't have to be uber wealthy to be part of a premier banking program, but you do have to have that inclusivity where your banking relationship is primarily at Lake Michigan Credit Union, and what I mean by that is we look for them to have a direct deposit into their checking or savings account and we look that they use their checking or savings account and we look that they use their checking account to pay all their primary bills, so we know that we are their primary financial institution, and that's really what premier banking is about and it's about using all the products and services that are available to you through through lake michigan credit union is correct.

Speaker 2: 6:18

So do you see certain things maybe trending in the industry?

Speaker 3: 6:25

I think over the last 10 years, I personally can tell you that I have seen more financial institutions credit unions and banks gear more of their specialized products towards people who are loyal to their financial institution. I think that that's going to continue on and we're going to continue to see financial institutions really take care of the people that are loyal to them.

Speaker 2: 6:56

That's great. I hope so, because you know it's been a rough I want to say a couple of years, but it seems like customer service has gone the way of a lot of things and it's good to hear that it's coming back.

Speaker 3: 7:11

I couldn't agree with you more. People don't like to call a 1-800 number, or they don't like to call into a phone and constantly get a voicemail or be transferred. Folks like to know who they're dealing with, they like to see their faces, they like to know their names and they like the same in return.

Speaker 2: 7:33

It's what I call relationship banking. My mom worked in a bank growing up and she, you know she knew everybody in town because they would come in and they would see her. So there is that relationship and that connection.

Speaker 3: 7:44

You're absolutely correct. It's all about relationships and building those relationships.

Speaker 2: 7:50

That is. So I know you probably don't have a lot of free time, but what do you enjoy doing outside of?

Speaker 3: 7:55

work. I love spending time with my grandchildren and I love to crochet. I like to sew. I'm a crafter so I like to craft. I enjoy spending time with my husband and I love to go for walks.

Speaker 2: 8:12

And you can do that outside down here in Southwest Florida. Don't have to worry about snow or ice or anything like that. Right right, the weather's very consistent down here, which we love. So is there one thing that maybe you wish our listeners knew about Lake Michigan Credit Union, that maybe they don't know?

Speaker 3: 8:32

I would just like to let them know that most credit unions, including Lake Michigan Credit Union, are nonprofit organizations and we give our profits back to our members through higher interest rates on deposit accounts, CDs, checking accounts, savings accounts, money markets, and offer lower loan rates on car loans, mortgages. And we're able to do that because the money that's generated actually goes back to the members and the services that we provide for them and the products.

Speaker 2: 9:07

And that is great. It's so important now because so many businesses outside, even outside of the banking industry, are just focused more on profit and how much money can we generate with this fee or that fee or this and that.

Speaker 3: 9:19

And you're exactly right. If we're a bank, we are answering to the shareholders. Well, we are not a bank, we are a credit union. We answer to the members that we serve. That's the difference.

Speaker 2: 9:31

And that's all about being part of the community it is, and giving back Absolutely. I love it. So how would our listeners go about getting a hold of you if they were interested in learning more and joining the credit union?

Speaker 3: 9:44

They can call me at 239-908-5894. Or they can email me at christy K-R-I-S-T-Y dot. Nickel N-I-C-O-L at L-M-C-U dot O-R-G.

Speaker 2: 10:02

Very good, Christy. It's been a pleasure getting to know you. Thank you for being such a good neighbor and I hope to see you out in the community here soon.

Speaker 3: 10:11

Thank you, jim, I appreciate it.

Speaker 1: 10:13

Thank you for listening to the Good Neighbor Podcast, estero. To nominate your favorite local businesses to be featured on the show, go to GNPEstero. com. That's GNPEstero. com, or call 239-296-2621. One.