ACH Payment Changes: New electronic payment processing regulations will take place on Friday, September 15th. Transactions that are processed through the ACH (Automated Clearing House) could post to your account on the same day the merchant initiates the payment. If you have questions regarding any scheduled, recurring or automatic payments you have with a merchant, you will need to contact them to ask if they will be submitting your payments as Same Day debits. This will not affect any payments set up with Gulf Winds’ Bill Pay Service.
Gulf Winds News
On Saturday, February 4, we lost a dear member of our Gulf Winds family, Jim Lee. He passed away at the age of 81. Jim served on the Gulf Winds Board of Directors for more than 50 years, dedicating much of his time to ensuring our credit union is sound and secure and that our members receive excellent service. We are grateful to Jim for his long-time service to Gulf Winds. His dedication to our members and the community helped Gulf Winds grow into the credit union it is today.
In 1954, a week after his high school graduation in his hometown of Dunbar, West Virginia, Jim Lee climbed in his 1946 Ford Coupe and headed to Pensacola, Florida to work at the Chemstrand Plant. An uncle who worked there told him the jobs were good, and the wages were fair. That was enough to bring the 18-year old to the Gulf Coast, where he would launch a career lasting 38 years at the plant and 50 years serving as a credit union board member.
Lee said the move to Pensacola took a lot of courage. He moved in with his uncle and started working as a mechanic for the plant. Lee was then promoted to lead mechanic and eventually became an engineering technician. In 1966, he was invited to run for the board of the Plant Credit Union and was elected. "I had to get out and work for it," he said. "People wouldn't vote for you unless you asked them."
"I remember back when I got on the board in 1966 the Credit Union assets were right at $5 million and we had $250,000 out to make loans," he said. "There were about 7,400 people out there and $5 million, so people didn't have a lot of money."
The Credit Union started with signature loans, small loans that members could simply sign for that would help with small purchases or emergencies between paychecks. Eventually, they offered larger loans for appliances and cars and then began offering mortgages.
Lee noted that the Credit Union played a significant role in the lives of the workers at the plant. "There were not any of us that didn't have a loan there," he said. "None of us had anything to start. The Credit Union put a lot of people into financial stability who were just out looking for a job."
When the credit union began, Lee said, “No one could have imagined the changes the future held, such as the internet and mobile banking."
"We never dreamed it. But I remember when we didn't have TV, so that's a long way back," he laughed. "There's no telling where it's going in another 50 years. We won't believe what will happen."
While Lee knows that the internet and mobile banking have become the norm, he also said that having a solid team behind the scenes is the key to success.
"The biggest thing in recent years has been hiring Rutledge as CEO (in 2002)," Lee said. "He made the credit union grow. He's a smart man with a good staff, and they are making sound decisions."
Lee envisions Gulf Winds continuing to grow as it has over the last decade, spreading to more states and across the southeast. "We've had good opportunities with our mergers, and Chris continues to look for those opportunities. I think we'll grow to have well over a billion dollars in assets."
But the greatest opportunity for Lee has been the chance to spend so many decades working with people he admires and trusts to help build his community.
"I know I have enjoyed my 50 years," Lee said. "I've made good friends, we are like brothers and sisters on the board, working together.
"It's rewarding to have good friends like that," he said. "It's kind of like a family."