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2 HARTFORD BUSINESS JOURNAL | APRIL 25, 2022 | BUSINESS PROFILES 3 60 Federal Credit Union deploys the cutting-edge technology of a large financial institution. But because the credit union is deeply embedded in the communities it serves, members can count on a personal touch that technology alone can't replicate. "We're very much a relationship-driven financial institution," says Karen Bauer, COO of the credit union, known as 360FCU. "We have multigenerational families in our membership. This is where they bring their children for their first savings accounts, their first debit cards." Technology only strengthens relationships between 360FCU and its roughly 19,000 members. Consider one of the credit union's latest innovations: a virtual branch. The branch was established as an emergency measure during the COVID-19 pandemic to help members conduct their banking online but with the help of a live representative. Even as the pandemic winds down, the virtual branch remains a popular way for members to open new accounts, transfer funds and apply for loans. In response, the credit union has extended the virtual branch's hours and is adding new capabilities, such as Web chat. "A lot of people prefer to do business in person, especially when it comes to their finances," Bauer says. The credit union also operates three community branches, in Enfield, Vernon and Windsor Locks. 360FCU was founded in 1952 as Hamilton Standard Federal Credit Union. Membership was initially limited to the Hamilton Standard employees and their families. But in 2015, it threw open its doors to people living in the community. Today, membership in 360FCU is open to anyone who lives, works, worships, volunteers or attends school in Hartford, Tolland and Middlesex counties. The credit union serves up a full set of products and services for individuals, including wealth management. "That's really a nice added benefit," says Bauer, noting that members can benefit from professional money management, retirement and education planning, and investment guidance on stocks, bonds, mutual funds and annuities for a productive, balanced portfolio. The credit union also offers a range of options for businesses, including commercial real estate loans, lines of credit and business Visa credit cards. "Small businesses are often overlooked by larger institutions," Bauer says. "That's really a niche for us." The niche is likely to grow bigger. The credit union is planning to hold workshops in conjunction with the U.S. Small Business Administration to help small businesses navigate the SBA process. In an effort to support Small Businesses during the pandemic, 360FCU was one of a few credit unions in Connecticut approved by the SBA to directly participate in the Paycheck Protection Program (PPP). 360FCU is also an SBA approved Express Lender. The business-focused events join a roster of community events hosted or sponsored by 360FCU. The credit union has held events for shredding documents and recycling electronics. And it has sponsored savings contests. On the charitable front, 360FCU is active in a number of initiatives. They include providing scholarships for students at Asnuntuck Community College, volunteering with Junior Achievement and backing a mental health program that is supporting local high school students. Technology, Local Touch Come Together at Credit Union Address: 191 Ella Grasso Turnpike; Windsor Locks, CT 06096 Phone: (860) 627.4200 Website: www.360fcu.org Product or Service: Personal & Business Financial Products No. of Employees: 65 Head of Company: Duane Crisco, CEO/President Year Founded: 1952