The CU2.0 Podcast

CU 2.0 Podcast Episode 217 Kent Lugrand CEO of InTouch Credit Union on Rewards Innovation and a Lot More

September 14, 2022 Robert McGarvey Season 5 Episode 217
The CU2.0 Podcast
CU 2.0 Podcast Episode 217 Kent Lugrand CEO of InTouch Credit Union on Rewards Innovation and a Lot More
Show Notes

 This is a different kind of podcast. Unlike just about any other in the series.

It started normally enough.  An email came in from a PR person offering Kent Lugrand, CEO of the $1 billion InTouch Credit Union in Texas, as a guest to discuss the institution's high yield checking account which provides members a way to earn up to 4% interest on deposits if they put $2500 per month on their debit card.

Then I discovered that InTouch has made a $1 million pledge to fund food banks for the hungry and needy in DFW, Las Vegas, and Detroit, its three chief regions.  Money to fund this comes from a share of revenues generated by credit and debit card usage and also new loans.

The combination of food for the hungry and more interest for members seemed interesting and relevant enough to warrant inviting Lugrand to guest.

But we get a whole lot more than that. For instance: Lugrand started his career as a stockbroker and for some years he made the very big bucks. He had everything he wanted to buy and that was a lot of stuff because he had grown up one of nine children in a Plains state family where money was in short supply.

He still remembers when he got his first winter coat that was brand new. He tells that story in the podcast.

Did I mention that Lugrand is African American? I did not and that is because he is a man who is proud of who he is but he also is proud that he's a good family member, proud that he cares for his community, proud that he is a hard and smart worker.

 He talks about him and race in the podcast too.

And why he ditched the high flying life of a stockbroker for credit unions.

Along the way we do talk about High Yield Checking.

But buckle up. This is not the ride you expect - but you definitely won't want your money back.  This is a podcast you will tell many others to listen to.

Listen up.

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Find out more about CU2.0 and the digital transformation of credit unions here. It's a journey every credit union needs to take. Pronto