Southeast #4: Phil Marina

Phil Marina is a 24-year-old Branch Manager with Suncoast Schools Federal Credit Union ($5 Billion) in Tampa, Florida.

Synopsis: Hi everyone, I am Phil Marina. I am 24 years old and I am a Branch Manager for Suncoast Schools Federal Credit Union. Suncoast Schools was originally chartered in 1934 as Hillsborough County Teachers Credit Union. Over the years, charters were amended which allowed us to expand our field of membership to serve in multiple counties. Suncoast Schools Federal Credit Union is the largest Credit Union in Florida and the 8th largest Credit Union in the United States. We currently have over 500,000 members and more than $5 Billion in assets.

As many members of most credit unions face or have faced financial hardships over the years, we know how difficult it has been to get qualified for loans. Layoffs, salary cuts, and overall cutbacks have not only been hard on all of our members, it has also been hard on the overall economy. As a direct result of these challenges, it has been even harder for credit unions to lend money to these individuals who are steadily getting back on their feet. I believe that there is a way we can better serve these members when it comes to loans and the lending process. This is where the Suncoast Second Chance Loan comes in.

My idea is to create a loan program designed to help a select number of members who have struggled with their credit as a result of these tough economic times and are ready to get back on their feet. The idea here is to give a select number of members a second chance to prove their credit character. With that being said, there are certain criteria the members will have to meet before granting their loan request.

First, the member must complete a series of three financial seminar sessions. The first session will be a 30 minute seminar on basic finances. Second, we will teach the member how to properly create and stick to a budget that is tailored to their individual finances. Finally, we will help the member assess and understand their credit and put their plan into action. Upon completion of the series of seminars, each member is eligible to receive financing depending upon which type of loan they initially requested. This three phase process will build a relationship between the member and Suncoast Schools which will allow these members to get back on track with the Suncoast Second Chance Loan.

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