Qualtrust Credit Union Holding True to Their Motto

“People helping people.” That is the overall credit union philosophy, and Qualtrust Credit Union holds true to this statement.

“We are on a first-name basis with most of our members,” stated Brett Nikolauk,vice president of West Texas operations who has been with Qualtrust for over 20 years.

Janet Staha, marketing and business development director who has been with the company since 1978, explained that Qualtrust staff refer to their customers as "members."

She explained, “The thing that sets us apart from banks is something basic, but very profound. Banks are owned by stockholders and presidents. They’re a profited company; where credit unions are non-profit. Our stockholders are our members. We call them members verses customers because of that reason right there.”

Qualtrust was founded in 1948 and was originally started for General Tel Co employees. The employees and their families were the only people eligible for membership previously; however, in the early 2000s, things changed.

“Anyone who lives, works, or worships in Tom Green County is eligible for membership,” Staha stated.

Additionally, there are benefits to joining Qualtrust Credit Union instead of a traditional bank. For people looking for a small loan, the minimum requirement is $350, and Staha said, “You can’t find that at a bank.”

The interest rates on loans are also lower. For example, auto loan rates are 1.99%. Currently, Qualtrust is running a promotion on auto loans where members get $200 cash back and $50 in a checking account, which actually pays for the initial deposit. This particular promotion will be ending Dec. 31.

With the mention of interest rates, Staha shared her thoughts on how the recent raise of interest rates by the Federal Reserve might affect the local economy.

“It’s going to affect people buying and borrowing, but not by very much,” she noted. “The nice thing about it though, is there are people who are retired and they are trying to live off the interest from their IRA CD or their regular CD; interest rates are so low on those investments and people have a hard time making it. So this will help them out, hopefully.”

Qualtrust has two locations in San Angelo, one at 2601 W. 306 Loop, and the other at 34 S. Main Street.