Member Spotlight: Gary Sylvester

CUNA Councils
October 18, 2006

Member Spotlight: Gary Sylvester

Gary Sylvester is executive vice president for Comala Credit Union in Montgomery, Alabama. He was raised in the Detroit area, attended college in West Virginia, and has been in financial services for nearly 27 years. After working in banks for the first 20 years (“I Ioved the education I

received but grew tired of the environment,” he comments), he joined the credit union movement.

“I love helping people borrow money to improve their lives,” says Gary. “The key to my success is the efforts of those around me. I have the ability to know what chairs to put people in to maximize their work experience. I also believe laughter and having fun are the catalysts for superior member service and employee morale.”

Biggest challenge for 2006

To help as many members as I can borrow money by making it a fast, fun, and enjoyable experience.

Best advice

For lending: When people need a loan, they start by shopping for rate but what they are really looking for is someone to make borrowing easy and to get excited about what they are buying. The first lender that does that will get the business and the rate will be a non-issue.

Asking for a co-borrower to help someone with bad credit is just another person who won't pay you.

For marketing: Be amusing and make people laugh.

Greatest benefit of being a Council member

The Listserv and annual conferences.

Best part of your job

Making loans, making members happy, making people laugh.

Hardest part of your job

Helping some staff come to the realization that they are in the wrong business.

Success story

Lending: Closing $6 million in new fixed-rate HE loans in five months (more than doubled the portfolio) by simplifying the process (close loan in one day), using fun advertising to target members with rising rate HELOCS they have elsewhere, and having fun with incentives.

Increased quality indirect loans from an average of 20 per month to over 80 per month by giving dealers monthly volume incentives on 700-plus score deals and delivering mind-blowing service and response time. Built rapport by sponsoring a sporting clay-shoot instead of a golf outing.

HR-Implemented a employee-run morale committee whose sole purpose is to find ways to have fun at work.

Hobbies and interests

My wife , kids, history, movies, and comedy.

People would be surprised to learn that . . .

I am a professional comic and a member of a professional improv comedy group.

Recent book

Acting by Michael Caine

Life goal not yet accomplished

Being a CEO

Something that always makes me laugh

Monkeys in commercials.

If I had an extra hour in the day . . .

I would have a few more beers (just kidding!) I would spend it with my family.