As we look at the current landscape of the credit union movement, it's clear we are at a crossroads. With a massive wave of executive retirements on the horizon—what we often call the "silver tsunami"—organizations are urgently asking, "Who is next?"

Summary

In our conversation, we discussed how the traditional methods of hiring are no longer enough. We explored the synergy between strategic recruitment and intentional leadership coaching, and why the most successful credit unions are the ones that stop just filling positions and start building people.

Below, I've included the main topics we covered, a link to our full conversation on YouTube, and a complete transcript of the episode.

Key Themes and Frameworks

The core of our discussion centered on the idea that leadership development must be intentional, not accidental. We broke down several frameworks for how boards and current CEOs can ensure their organizations flourish long after a transition occurs.

• Navigating the "Silver Tsunami": How to prepare for the upcoming wave of retirements by focusing on succession planning years in advance.
• The Soft Skill Revolution: Why emotional intelligence (EQ) and cultural alignment are now more predictive of CEO success than technical experience alone.
• The First 100 Days: The critical role of coaching and mentorship in a new leader's onboarding process to ensure long-term retention.
• Servant Leadership in the Modern Era: Re-centering the credit union philosophy of "people helping people" within the executive suite.

Watch Now

Watch the full conversation below, or click here to watch on YouTube.

Full Transcript

Greg Cook: Welcome to Credit Unions Forum, where we discuss leadership, innovation, culture, and the future of the credit union movement. Today's conversation is incredibly timely across the industry. We're seeing experienced leaders retire, talented professionals transition into new roles, and organizations asking an important question: Who is next? To help answer that question, I'm joined by two outstanding leaders who are creating strategic solutions around recruitment, leadership growth, and coaching. Janice Shisler from Jspire and Jane Fontaine from Jane Fontaine Coaching have formed a strategic alliance focused on helping credit unions not only recruit talent but build and develop the next generation of leaders. Janice, Jane, welcome to the show.

Janice Shisler: Thank you, Greg. It's a pleasure. Thank you for having us.

Greg Cook: To begin with, I figured I'd ask some quick questions for Janice. Janice, we're hearing more conversations around the "silver tsunami" of retirements in financial services. What are you seeing firsthand in the credit union space?

Janice Shisler: Yeah, I mean, you know, it has been many years of building succession within the organizations. And you know, now we're seeing leaders who have been in profitable, growing organizations who now want to become CEOs. So what we've done is we've really focused our efforts on our recruitment to help build from the previous leaders within credit unions who were very successful in what they did and grew their credit union—amazing leadership. Now we're tasked to find that next generational group of leaders to take on those roles.

Greg Cook: How has that changed over the last few years, would you say, in leadership roles?

Janice Shisler: I would say the last few years tremendously. It's really gone at least a 360, because there's just a lot of talent out there that now that they've experienced what it's like to, you know, maybe they started off as a VP, now they're promoted into a COO role, given more responsibility—now it's time for them to really take on the challenge of becoming a CEO of a credit union. And a lot of the talent that I'm speaking to, it's about the membership. It's about caring for the members. It's about the credit union's philosophy on how to drive those businesses and those initiatives to really enhance the member experience. So when they put that in the forefront, that's what's exciting to them.

Greg Cook: Taking that a little bit deeper, are credit unions placing more emphasis today on culture fit, emotional intelligence, and adaptability versus just years of experience?

Janice Shisler: I would say a combination of both. But what I would also say is a lot of credit unions are faced with their aging demographic of their membership. So a great deal of them are saying, you know, we need to grow our members. One of the challenges that I also see is loan growth. There are three things they want to do: grow membership, grow loans, and increase assets. But they don't necessarily want to be a merger candidate. So those are some of the challenges that some boards are facing right now, and credit unions in general: how do they grow and how do they make money but still stay confined to their original field of membership?

Greg Cook: Now you're talking to credit unions looking to fill senior leadership and CEO roles. Are you seeing qualities in the next generation of emerging credit union leaders that are similar?

Janice Shisler: Yes, absolutely. Many, many years ago, as I mentioned to you, I've been recruiting in credit unions for 29 years, Greg, and it's been amazing and I absolutely love it. You know, the previous credit union CEOs, they've all retired, but they have been dynamic. They really valued the people and the employees; they didn't look to just grow a credit union for the sake of growing. I think as we've transitioned into the future, that has changed some. The landscape has changed. Now we're finding talent even through M&A credit unions where we're finding them as potential recruits for other organizations that are in growth mode. And that has been a very positive experience as well.

Greg Cook: I've got one more quick question for you before I switch over to Jane. What's one mistake organizations make when trying to recruit leadership talent?

Janice Shisler: I would say one mistake is not fully vetting your candidate or understanding what they bring to the table unless you have a true passion for what they exude. And I also think: what is the ultimate end goal for them? Are they going to stay committed for one to two years and then move on? Or are they going to be part of the succession plan that carries that credit union to the next level?

Greg Cook: Okay, Jane, I've got some questions for you. From leadership development becoming as important as recruitment itself, why is coaching such a critical piece of the equation today?

Jane Fontaine: Well, I've spent ten-plus years in the credit union space, so I had a great opportunity to lead the people and culture functions, and I've worked with a lot of different leaders. And leaders are not—some people will say, "Oh, leaders are naturally born." Well, that's not necessarily true, because leadership is something you can learn.

Greg Cook: I definitely agree. Leadership is something that can be trained.

Jane Fontaine: Well, and I'm sure you've worked at places, Greg, where people are put in leadership and it's almost like, "Good luck, hope it works out for you." And it's so important to give these—whether it's an emerging leader or a leader that's moving up in their career—the tools they need to be successful. And that comes with coaching. That comes with helping them to really onboard. Those first 90 days are very, very critical. It sets them up for success. So it's really investing. It's investing in people.

Greg Cook: Well, and your background—you've got an HR background, correct?

Jane Fontaine: Yeah, I have a 25-year career in HR and the last ten years were spent in the credit union.

Greg Cook: Yeah, the reason I know this is because my daughter is in HR. When she graduated from the University of Toledo, I got her a book and it said, "Your first 100 days as an HR leader." So just like you said, your first 90–100 days are probably the most important when you join an organization. Now, what would you say are some common struggles emerging leaders face when stepping into that leadership role for the first time?

Jane Fontaine: Some of the challenges are wanting to change things too quickly instead of taking the time to listen. 90 days is a time where you spend a lot of time listening, learning, connecting with people. Sometimes it's also thinking that what got you here is going to get you there. It's different as you move to different levels of leadership. Being willing to learn, being open to saying, "Hey, I don't know what I'm doing, but I'm here to learn." Getting a mentor—I always recommend finding a mentor; it's invaluable. And as you were asking Janice about emotional intelligence—some of the soft skills aren't there, Greg. And it's: how do we develop the soft skills? Which certainly emotional intelligence is huge, and communication.

Greg Cook: Actually, we could probably take a complete sideways twist on our conversation and go into soft skills. We often talk about technical skills, but how important are communication, resilience, and relationship building in leadership today?

Jane Fontaine: Well, it's absolutely essential. As you know, today's world is changing so fast. You have AI—every day something's new. The ability to communicate effectively at all levels as a leader, being able to pivot when you have to—resilience, obviously, especially in financial services. And the ability to recognize—I find self-awareness is huge. That's what EQ-i will also help you see: how self-aware are you as a leader? How self-aware are you that you know what your strengths are and those areas that need to be developed? And the humility to say, "Hey, I need to develop these things." And servant leadership is so big in the credit union space.

Greg Cook: I can't agree with you more on that one. Now, I'm sure you probably have a loaded question for this, but how can credit unions better prepare employees today for executive leadership tomorrow?

Jane Fontaine: Well, it starts with: you have to identify who. You have to take an assessment of your organization. Who are those people that are potential leaders? Identify who they are and how quickly they're going to be ready to move up. And if they're not ready, when will they be ready? And how as an organization can we help those leaders get ready? And it might be investing certainly in coaching, leadership development training—it could be external programs, internal programs. Rotational programs within the organization are an excellent way that you can take an emerging leader, they rotate to different departments, they learn about all areas of the credit union. It's taking the time to invest in your staff. Investing in staff helps you retain staff, too. They want to feel that you value them and you're going to invest in them, and it's not just all about money.

Greg Cook: That reminds me, I heard a little bit of a joke and it was something like: "Hey, if we invest in our team, they might leave." And then someone else goes, "Yeah, well, if we don't, they might stay."

Jane Fontaine: That is so true! Because when you think about it, Greg, historically when there need to be budget cuts, a lot of people run to the learning and training and development area—"Oh, let's cut that out." That should be probably one of the last places you cut because you want to retain staff.

Greg Cook: So, last one before we segue into your guys' strategic alliance. Do organizations retain employees better when they invest in leadership coaching and career development?

Jane Fontaine: Yes, because it shows that you care about their future. And sometimes, Greg, I'll be honest, you'll invest in employees and then they'll eventually leave because some people are only going to wait so long before they can get promoted. But what does that say about your organization? It says that you produced a quality candidate. To me, that's branding, that's marketing—that they're going somewhere else. And certainly the younger generations, Gen Z and Millennials, they want you to invest in them. They want to learn, they want face time with leaders, they want mentors. So yes, it is a retention tool, definitely.

Greg Cook: You know, I've often heard that a leader isn't a leader until they've produced another leader.

Jane Fontaine: I've never heard that, but that's excellent! That's an excellent thing, that's so true.

Greg Cook: All righty. So, the alliance. What made the strategic alliance between Jspire and Jane Fontaine Coaching such a natural fit?

Janice Shisler: Well, number one, we both are experienced leaders in our specific industry. We've known each other for years. I've been on the client side, I've been on the consulting side working with boards, and Jane has been there throughout her whole credit union career with me. And when she transitioned into a consulting role and we worked together for a role on the East Coast, it just made sense. Jane's like, "I'm getting my coaching," and I said, "Jane, all of our placements are retiring. We need to formulate a strategic alliance to help our new generation become CEOs for the betterment of the members and for the careers for credit unions in general." So we've been talking about this since October of last year and we decided that this is a great opportunity for credit union executives or leaders to reach out to Jspire, and we have that full circle of complement with Jane and with us in developing them, helping them, coaching them. It's a win-win for anyone who wants to partner with Jspire and Jane Fontaine.

Greg Cook: Yeah, so you're not just finding a position, but you're actually helping them develop people for future positions. How does combining recruiting with coaching create a stronger long-term solution for credit unions?

Janice Shisler: It does, because the relationship that people that want to become CEOs—they're starting to tap their toe in the water. Some CEOs make it look very easy, Greg, as you know. And so they're saying, "I want to be the next CEO of XYZ, a billion-dollar credit union." Great, but you're not going to get it your first time either. So our job is to say: "That's great, you're coming in at a perfect time, there are more retirements coming in." And that's when they contact Jspire and then the resume rewrites, the LinkedIn profiles, the coaching is going to elevate them because they're not in that role. And with Jane's experience and my experience, we felt that the combined group could really make a significant impact. We sort of did this indirectly before we formed our alliance with a credit union in Boston where I did the CEO search and Jane was behind the scenes helping the executives with their resumes and coaching. And so it made perfect sense. This board was very much in desperate need of a true leader, and we felt that this really could resonate well as we start formulating new leaders to come into credit unions and be a success.

Greg Cook: Jane, if I can add onto that, interviewing has changed over the years. Finding a job has changed, interviewing has changed. You have to really be solid in knowing what you bring to the table and how you convey that message. "Tell me about yourself. What are your success stories?" It takes a lot of preparation to be successful. Yes, you can go look at a website, but it's really you being able to go in there and articulate who you are and what you bring.

Greg Cook: Well, leadership transitions are inevitable, but leadership development can be intentional. A huge thanks to Janice Shisler from Jspire and Jane Fontaine from Jane Fontaine Coaching for joining us and sharing insights on recruiting, coaching, and developing the next generation of credit union leaders. If today's episode brought value to you, share it with your colleagues, leadership team, or emerging leaders in your organization. Until next time, keep leading forward.

In this episode, Doug pulls no punches. We discussed his "spicy" take on regulatory burden, why he believes "DIY" is the only path to profitability for small institutions, and the specific niche lending strategies he used to corner the market in his community. This article includes a breakdown of our main talking points, a link to the video, and the complete transcript of our conversation.

Key Themes and Strategies

Doug's approach is a masterclass in operational efficiency and common-sense leadership. We spent a lot of time on the "how-to" of survival for community-based institutions.

• Niche Lending & The "Heat Pump" Strategy: How Doug established Tri-CU as the dominant lender for HVAC contractors by creating a proprietary, fast, and cheap financing module.
• The Problem with Third-Party Vendors: Why Doug advocates for "DIY" management to avoid the "bells and whistles" that drain small credit union budgets.
• Regulatory Advocacy (ESCUD): The story behind why Doug started an advocacy group to fight for regulatory relief for institutions that aren't large enough to warrant "big bank" oversight.
• Succession and Board Governance: Lessons on identifying common mistakes that lead to credit union failure, from sudden leadership loss to board apathy.

Watch Now

Watch the full conversation below, or click here to watch on YouTube.

Full Transcript

Greg Cook: All righty. Welcome back to the Credit Unions Forum podcast. I'm Greg Cook and today we're diving into one of the most important conversations happening in our movement right now: Can small credit unions survive and thrive in today's environment? Joining me is Doug Wadsworth, President and CEO of Tri-CU Credit Union in Washington State, founder of the Endangered Small Credit Union Defense initiative, and author of Keep It Simple, CEO: A DIY Profitability Guidebook for Small Credit Unions. Doug's become a strong voice for small institutions, advocating for practical leadership, operational simplicity, and regulatory relief. Doug, welcome to the show.

Doug Wadsworth: Thank you, Greg. Good to be here!

Greg Cook: Well, we're going to kind of bounce around—we were talking beforehand on a number of different topics. But first off, Doug, what inspired you to write Keep It Simple, CEO?

Doug Wadsworth: Thank you. Probably I realized about a year ago, I realized that at some point I'd be retiring. And I got to thinking, man, I've been here for almost 20 years. When I started as the CEO, it was just about to go underwater—it was about 15 million in assets. Everything was on fire and I had all kinds of interesting experiences. Over the years I've learned all kinds of lessons and seen all kinds of things happen. Overall, we've been a very profitable small credit union. We finally reached a point where we're so profitable we're trying to give money away back to our members.

Greg Cook: Looks like I might have to join you guys!

Doug Wadsworth: So anyway, I was like, man, I'm going to start writing all this down for whoever takes over for me when I'm gone. And then I thought, maybe—it's pretty easy to publish a book now. And oh man, it was so easy. I just typed it all up, rewrote it several times, and finally I was like, okay, I will never end. I'm just going to publish it. You can publish on Amazon for basically nothing. I'm a little unorthodox; I'm really all about DIY and doing things yourself and saving money. I say what I'm thinking, so sometimes it's a little spicy. It turns out there are no other books for small credit union CEOs by a small credit union CEO. So it's been fun.

Greg Cook: I was reading your book, actually, and after the first or second chapter, it talks about a further back chapter—Chapter 6—taking you back into a ton of lending. I know this conversation is going to bounce all over the place, but lending is the core part of our business.

Doug Wadsworth: It's our bread and butter.

Greg Cook: Why don't we spend just a few minutes going through some of the quick wins that other small credit union CEOs could potentially think about?

Doug Wadsworth: Yes, you bet. One of the best things you can do is find a really good person. First of all, I took over and lending was in the toilet. I was like, man, I've got to get loans up. This was right in 2008. Rates went all the way down, and I thought, you know what, I'm going to do like a 10-year mortgage refinance for people with great credit and lots of equity. No appraisal needed, no origination fee. We did tons of them. But that was still barely a drop in the bucket. So then I went to this conference in Las Vegas—the CU Directors conference. This guy spoke, Brett Christensen with CU Lending Advice. And he's like, if you want to get loans, the only way you're going to get loans is if you hire somebody and pay them a commission.

Greg Cook: That doesn't sound very traditional for a credit union.

Doug Wadsworth: It felt so wrong! But he said that's the only way you're going to grow loans. If you get a person who is a true salesman and understands the credit union mission, it works. Anyway, I found a guy and he was great. He started making connections with car dealerships and then HVAC contractors for heat pump loans. Most of our loans now come from business partners—business relationships he's established. We came up with products that were really competitive, fast, and easy. We've been over 90% loaned out ever since. That was like 15 years ago.

Greg Cook: That is such a success story. Now, you mentioned heat pump lending. I know you started with Deeds of Trust but then changed to UCC filings?

Doug Wadsworth: Initially, we were doing it with a wild Deed of Trust. That way we didn't have to do title insurance, because that takes a long time and it's more fees. Our whole goal was fast, easy, and cheap. But eventually, it was just a pain in the neck with the examiners. Every time an examiner came, they're like, "Well, did you do this?" Then the regulations changed to the Truth in Lending model, which made it more complicated. We were signing documents the next day—how are we supposed to do it three days before they sign? It was ridiculous. So finally we were like, we're tired of dealing with examiners. We changed to a UCC filing. Our losses on these HVAC loans are almost zero. In 10 years, I think we lost one loan for a few thousand dollars.

Greg Cook: Since you're not putting a lien on the property, what are you using as a guide for pricing those loans?

Doug Wadsworth: We just keep them the same as if there is a lien on the property. It's just like a home equity loan, basically. And the UCC kind of is a lien; it actually shows up on the title insurance. We even worked with our core processor, CMC Flex, to build software to get them automatically approved and signed in the middle of the night while we're closed.

Greg Cook: You paid your core to develop that?

Doug Wadsworth: Yes, for us. So now, when a person goes to the heat pump store, the application comes right into our system and it will auto-approve and send them the documents to sign. When we come in the next morning, we just open the account and fund the loan. Oh man, they're fast and they're easy.

Greg Cook: That's incredible. Now, moving to another passion project: the Endangered Small Credit Union Defense (ESCUD) initiative. What gap did you feel wasn't being addressed?

Doug Wadsworth: This was in January of 2025. There was this perfect storm of annoying things. My NCUA examiners—who are normally great—said they were coming on like January 6th. That is the busiest month of the year! And the stuff they were bothering me with had no impact on safety or soundness. They told me I wasn't filing enough Suspicious Activity Reports (SARs). We're a small credit union! We don't have a lot of suspicious things because we notice it before it gets to that level. It was insanity. Then I went to a conference and a panel of big credit union CEOs said, "In 10 years, there will be half as many credit unions." And they all nodded their heads. I was like, whoa, if there's half as many, the small ones are going to be extinct.

Greg Cook: And you felt the leagues weren't helping?

Doug Wadsworth: I'd reach out to my league and say, "Why am I having to do CECL? Why NMLS? Why HMDA?" And they're like, "Well, those are really hard things, we have to do things that matter for all credit unions." Basically, they'd done almost nothing for small credit unions for decades. So I realized it was partially my fault because I wasn't at the table. I was too busy wearing 10 different hats as a CEO. I realized you have to be a squeaky wheel. So I started ESCUD. It's a non-profit. My two purposes are: 1) Advocate for regulatory relief for small CUs. If it doesn't impact safety and soundness, we shouldn't be required to do it. 2) Encourage small credit unions to really give back to their communities.

Greg Cook: What are the biggest operational mistakes hurting small credit unions financially?

Doug Wadsworth: I actually did a bunch of research on this for the book. NCUA examiners and big CEOs all say the same things. Number one: small credit unions sign up for some expensive third-party vendor contract when times are good, and when times get tough, they can't get out of the contract. It kills them. They get too tied up with bells and whistles. Everything possible, you have to do it yourself—DIY. That's how you save money. I avoided online new account opening for years because I didn't want to deal with the fraud. Finally, last year, I looked into an FIS system integration. It was $2,000 a month. I'm a small credit union! I DIY'd it. We use the free module from our core and we internally verify identities ourselves. We get maybe a dozen applications a month. If I paid for the big system, I'd be paying $2,000 for one legitimate new member a month. Total waste of money.

Greg Cook: Doug, this has been an outstanding conversation. I appreciate your honesty and your willingness to advocate for the future of small credit unions.

Doug Wadsworth: My pleasure to be here. I just want to have small credit union voices combined. Then all of a sudden, the NCUA and the associations pay attention. We're a passionate, unique group. We love the credit union movement, and we love giving back.

Greg Cook: One last question. One thing every new CEO should stop doing immediately?

Doug Wadsworth: Stop hiring expensive third parties. And stop taking all the advice from your examiners. Only do what you have to do by regulation. They'll put you right out of business with their "great ideas" that just swamp you with paperwork. I once had an examiner give me a 10-page "best practice" policy. I whittled it down to 38 words. It saved me 10 pages of complicated triggers.

Greg Cook: Doug, thank you again for joining us on the Credit Unions Forum podcast. To everyone listening, if this brought you value, share and like this episode. Until next time, keep leading forward.

For many institutions, the shift toward commercial and SBA lending feels out of reach due to the high costs of infrastructure and specialized staffing. However, John and I discussed how the collaborative power of a CUSO allows credit unions of all sizes to compete with the "big guys" while maintaining a healthy balance sheet. We explored the mechanics of loan participations, the reality of risk management, and why keeping capital local is the ultimate win for our members.

Below, I've outlined the key subtopics from our discussion, along with a link to the full episode and a complete transcript of our conversation.

Strategic Takeaways for Credit Union Leaders

Strategic business lending isn't just about adding a new product line; it's about deepening member relationships and diversifying your portfolio. John shared several frameworks for how to approach this space effectively:

• Yield & Diversification: Understanding how commercial and SBA lending provide a stronger yield and protect the credit union's balance sheet through portfolio diversification.
• The Power of Collaboration: How smaller credit unions can leverage the shared expertise and infrastructure of a CUSO to manage compliance and underwriting without massive overhead.
• Managing Risk Misconceptions: Addressing the "too risky" stigma by using proven management frameworks and loan participations to spread risk appropriately.
• Local Economic Impact: The vital role credit unions play in supporting local small businesses and how that keeps jobs and capital within the community.

Watch Now

Watch the full conversation below, or click here to watch on YouTube.

Full Transcript

Greg Cook: Welcome to the Credit Unions Forum. I'm your host, Greg Cook, Credit Union President and CEO. Today, we're diving into one of the biggest strategic growth opportunities in the credit union movement: business lending. Joining me today is John Skeldon from CBS CUSO. Welcome, John.

John Skeldon: Greg, thanks for having me. I appreciate it.

Greg Cook: To start us off, why should credit unions be seriously considering business lending in today's environment?

John Skeldon: It's a great question. You mentioned it earlier: diversification. How can you diversify your balance sheet and offer your members a wide array of products? That's number one and number two—diversification and the availability of products for your members. Boards and leadership have to be behind it, and that's where an organization like CBS CUSO comes in. Credit unions are taking a leap of faith into something they historically haven't always done well on their own.

Greg Cook: I know many boards view business lending as "too risky." What misconceptions do you commonly hear from credit union leadership?

John Skeldon: Change is tough, and new things are scary. Historically, credit unions didn't have the expertise within their four walls to attack commercial lending at a meaningful level. That's why CUSOs were developed. We act as that shared back-office. We hire the experts so you don't have to build the entire system internally. It allows you to add this to your arsenal without the massive investment in tech and staffing.

Greg Cook: How can a credit union manage risk properly while still growing a healthy commercial portfolio?

John Skeldon: It's simple: take a small bite of a lot of deals. I don't expect a credit union of your size to take a $4 million piece of one loan. If that loan goes bad, it hurts. But if you take smaller chunks of many different loans, the sting is mitigated. We underwrite it, manage it through its life, and ensure it's done right.

Greg Cook: For a credit union with little to no experience in this space, what is the best way for them to get started?

John Skeldon: Use the community. Credit unions work so well together—you're "friendly competitors." Use that collaborative spirit. Reach out to a CUSO that's been doing this for 20-plus years. You don't need an entire team; you just need to plug into a model that already works and has the expertise in place.

Greg Cook: Looking ahead, what role do you see business lending playing in the growth of credit unions over the next few years?

John Skeldon: Credit unions are going to continue to get bigger and stronger. Commercial real estate isn't going away, and it's going to be an increasingly important offering for leaders to provide. We have to adapt to the fintech movement and the CUSO movement to stay competitive in the market.

Greg Cook: John, thank you for joining us and sharing these insights. It's a powerful path forward for our industry.

John Skeldon: I appreciate you having me on, Greg. Thank you.

Greg Cook: And thank you all for watching. We'll see you next time.

Industry Leaders

Each year, the conference brings together thousands of credit union leaders, advocates, and policymakers. It serves as a primary platform for lobbying Congress, discussing legislative priorities, and shaping the future of the credit union movement.

Shaping Policy

By gathering so many voices in one place, GAC gives the credit union community a direct line to the people making decisions on Capitol Hill. It is where legislative priorities are raised, advocacy takes shape, and the direction of the movement gets set.

Looking Ahead

GAC continues to stand as the premier gathering for everyone invested in the credit union movement. It remains the place where leaders come together to advocate, connect, and move the industry forward.

Final Thoughts

The Governmental Affairs Conference is the largest and most influential credit union event in the country, bringing together thousands of leaders, advocates, and policymakers in Washington, D.C. It is a primary platform for lobbying Congress, discussing legislative priorities, and shaping the future of the credit union movement.

For anyone in the credit union space, GAC is where the work of advocacy happens and where the future of the movement is shaped.

Join America's Credit Unions at GAC and be part of shaping what comes next.

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"You cannot escape the responsibility of tomorrow by evading it today."
~ Abraham Lincoln

Credit union boards are now in a high-stakes race, not just against other financial institutions, but against time itself: a growing number of long-tenured CEOs and senior execs are retiring, and boards are responding with significant compensation increases to secure continuity.

What Is Driving Rising Executive Pay?

According to the 2025 CUES Executive Compensation Survey, total compensation for credit union CEOs jumped 10.2%, primarily due to record-high bonuses.

CEO base salaries alone rose 7.6% year-over-year, per CUES, even amid macroeconomic uncertainty.

The average bonus eligibility hit 95.9%, with some large-CU CEOs receiving bonuses equal to 32.7% of their base pay.

Boards are increasingly offering deferred compensation plans, split-dollar life insurance, and non-qualified benefit plans to retain senior leaders.

Why Boards Are Paying Up

The retirement of seasoned leadership threatens institutional memory and strategic stability.

Replacing a CEO or senior exec isn't just costly, it risks a loss of culture, relationships, and long-term vision.

Rising complexity (cybersecurity, regulation, digital transformation) demands highly experienced leadership.

New NCUA guidance is pushing succession planning into sharper focus: proposed rules now require written plans for key executive roles.

I experience these dynamics firsthand as President and CEO of University of Toledo Federal Credit Union.

Retaining Senior Leadership

Here's what the credit union boards should do to retain senior leadership

• Adopt strategic compensation frameworks: use data-driven benchmarks to ensure pay is competitive and retention-focused.
• Institute long-term, non-qualified compensation plans: use deferred compensation or split-dollar arrangements to align executive incentives with future performance and retention.
• Build robust succession plans: identify internal talent early, assess their readiness, and give them real development opportunities so they're ready when a senior leader steps down.
• Invest in leadership development: higher education is trending among execs, and boards are responding.
• Monitor regulations and governance: as incentive-based compensation rules and succession planning become more regulated, proactive boards will mitigate risk and strengthen stability.

Conclusion

To every Credit Union Board Chair and Director: the cost of not acting is growing, not just in dollars, but in legacy.

If you haven't done so already, convene a leadership-retention strategy session this quarter. Revisit your compensation structures, succession plans, and development pipelines.

Let's ensure the next generation of credit union leadership is ready, resilient, and deeply invested, not just in the institution, but in its mission.

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Our Story

Sixty years ago, 13 people believed in something simple: members helping members. They founded T.U.T. Federal Credit Union with limited resources but unlimited enthusiasm. In 1976, we became University of Toledo Federal Credit Union and expanded our services. Today, we serve over 6,700 members nationwide.

Who We Serve

We're a credit union for the University of Toledo family. If you're a student, faculty member, staff member, physician, alumni association member, or a family member of any of these groups, you can join us. It's that straightforward.

What We Offer

We provide everything you need for your financial life:

• Checking and savings accounts
• Auto loans with competitive rates
• Home equity lines of credit
• Credit cards with zero liability protection
• Student loans designed for college expenses
• Personal loans for whatever life throws at you

You can bank with us through our mobile app, online, or visit our campus locations. We're at the main Hill Avenue office, Mulford Library, and the Lancelot Thompson Student Union.

The Difference

As a not-for-profit cooperative, we work differently than big banks. We return our earnings to you through better rates and lower fees. That means more money in your pocket. We recently added residual-based auto financing to help members manage today's higher vehicle costs. That's what being member-focused means to me.

My Commitment

I'm a U.S. Marine Corps veteran and a University of Toledo graduate myself. I understand this community because I'm part of it. Along with our talented team including Chief Operations Officer Shawna Misiuda, Chief Financial Officer Nicole Farris, and Vice President of Lending Bev Trost, we're committed to serving you with integrity and innovation.

Our Board of Directors, led by Chairman Tom Trimble, guides us with wisdom and experience. Together, we're building on 60 years of success while looking forward to the future.

Conclusion

From 13 members to over 6,700. From limited services to full-spectrum banking. From a small campus office to managing approximately $100 million in assets. That's our story, but more importantly, it's your story.

Every day, I see how UTFCU makes a difference in people's lives. Students opening their first accounts. Faculty members buying homes. Alumni investing in their futures. That's what drives me and our entire team.

If you're part of the University of Toledo community and looking for a financial partner who truly understands your needs, I invite you to experience the credit union difference. Visit us at uoftfcu.com, call 419-534-3770, or stop by any of our campus locations. Let's talk about how we can help you achieve your financial goals.