LAS VEGAS–Gayle Gustafson, VP-lending at Rivermark Community Credit Union in Beaverton, Ore., has been named winner of the Phil Greer Award by the CUNA Lending Council at its annual meeting here.
Named for the late Phil Greer, senior vice president of loan administration for State Employees CU, the award recognizes a Council member who exemplifies the leadership, passion and commitment Greer brought to the lending profession.
“In Gayle, we see a resolute, savvy lending leader reminiscent of Phil Greer,” said Bob Stowell, CUNA Lending Council chair and SVP/chief strategy officer, Firefly CU. “Professionals like her are what separate the credit union movement from other financial services options, and we are honored to present her this award.”
Gustafson has worked in credit unions for 34 years. As VP lending, she oversees Rivermark Community CU’s consumer, mortgage and business lending as well as collections and compliance. Prior to Rivermark, she worked as VP human resources and corporate culture at SELCO CU in Eugene, Ore. and in positions at various California credit unions.
The Council noted that since 2002 Gustafson has been a member of CUNA Lending Council, and she served on the Executive Committee from 2008 to 2015. During her time as the chair of the membership committee, CUNA Lending Council grew in membership by 40%. She currently chairs the Northwestern Credit Union Association regulatory advisory committee.
Separatey, the CUNA Lending Council introduced its 2016-2017 Executive Committee at its annual conference here this week.
Executive Committee Chair Jason Osterhage, senior vice president of lending at Alliant CU in Chicago, will be stepping down after completing his full term. Having served on the committee since 2010, Osterhage will become the CUNA Council’s executive committee chair. Dale Frankhouse, director of business services at Sun Federal CU in Toledo, Ohio, is also departing the board after completing his full term, which also began in 2010.
Replacing Osterhage and Frankhouse are two new members: Ray Lindley, senior vice president of lending at Elevations CU in Boulder, Colo.; and Steve Quigley, senior vice president of lending at University of Iowa Community CU in North Liberty, Iowa. The other recent addition, Kevin Kesecker, vice president and chief lending officer of SECU Linthicum, Md., joined in August 2016 and has been elected to his first official term.
Stowell will assume the position of executive committee chair, while Mike London, senior vice president of lending at Georgia United CU in Duluth, Ga., will become vice chair.
“Jason and Dale have both been essential parts of this team, and we extend our sincere gratitude to them for everything they brought to the committee,” said David Rohn, vice president for CUNA Councils. “Simultaneously, we enthusiastically welcome Ray, Steve and Kevin and look forward to seeing what this talented new team can accomplish.”
The full Executive Committee includes:
- Bob Stowell, SVP/CSO, Firefly CU, Burnsville, Minn.
- Mike London, SVP Lending, Georgia United CU, Duluth, Ga.
- Jim Block, SVP/CLO, Baxter CU, Vernon Hills, Ill.
- Aaron Bresko, VP Indirect Lending & Consumer Underwriting, BECU, Tukwila, Wash.
- Stacy Fifield, SVP/CLO, Travis CU, Vacaville, Calif.
- Rita Fillingane, VP Research & Collaboration, California & Nevada Credit Union Leagues, Ontario, Calif.
- Kevin Kesecker, VP/CLO, SECU, Linthicum, Md.
- Chris Oldag, CLO/VP, Pacific Service CU, Concord, Calif.
- Ray Lindley, SVP Lending, Elevations CU, Boulder, Colo.
- Steve Quigley, SVP Retail, University of Iowa Community CU, North Liberty, Iowa
- Cary Shumway, VP Lending, Arizona FCU, Phoenix, Ariz.
- Sarah Slonsky, CLO, Verity CU, Seattle, Wash.
- Keith Troup, EVP/COO, Y 12 FCU, Oak Ridge, Tenn.
Also during the meeting, the annual Excellence in Lending Awards winners were named.
The Excellence in Lending Awards are presented to credit unions for exemplary lending practices and results in business lending, consumer lending (including home equity), mortgage lending and low/modest means lending, CUNA explained. Applications are evaluated on: strategy (40 points), programs (30 points) and performance (30 points). All affiliated credit unions in the U.S. are eligible to win.
Below are the 2016 Excellence in Lending Award winners, with commentary provided by CUNA Mutual Group.
Business Lending, Assets more than $250 million – Service Credit Union, Portsmouth, N.H. ($2.98 billion in assets) – Service Credit Union developed a comprehensive strategy centered on commercial construction lending and floor plan financing to widen banking relationships with business members. The credit union created a CUSO initiative to allow for lending opportunities beyond its initial business lending footprint of New Hampshire to other New England markets. In 2015, Service Credit Union issued $15.8 million in loans through this expanded lending program.
Consumer Lending, Assets less than $250 million – NET Credit Union, Olyphant, Penn. ($185 million in assets) – NET Credit Union simplified its previously complex loan policy to focus on FICO score and debt-to-income ratio with the goal of facilitating more lending across all credit tiers. In addition, the credit union launched new auto lending products and promotions, including a 125% LTV loan option and a first-time car buyer program. These programs increased the credit union’s loan portfolio from $49.8 million in 2014 to $64.1 million by mid-year 2016.
Consumer Lending, Assets more than $250 million – USF Federal Credit Union, Tampa, Fla. ($535 million in assets) – USF Federal Credit Union refocused its strategic plan to center on loan growth. Key elements included expanded indirect auto lending operations, credit card and balance transfer incentive programs and the installation of an auto loan recapture program focused on both current and target members. This organization-wide effort boosted consumer loan volume by $2 million per month.
Low-to-Modest Means Lending, Assets less than $250 million – Lower Valley Credit Union, Sunnyside, Wash. ($110 million in assets) – Lower Valley Credit Union partnered with community groups to develop path-to-citizenship loans to help immigrant members cover expenses associated with the naturalization process. As part of this effort, the credit union accepted alternatives to Social Security numbers from working nonresidents for auto and home loans and offered financial education classes and materials in both English and Spanish. The credit union’s assets have grown by more than $50 million during the last three years with loan-to-share ratio increasing from 79.20% to 93.51%.
Mortgage Lending, Assets more than $250 million – United Nations Federal Credit Union, Long Island City, N.Y. ($4.58 billion in assets) – United Nations Federal Credit Union’s mortgage portfolio grew by 20% in 2015 due to its focused efforts in expanding markets. The credit union opened a new branch in Washington, D.C., along with a services center in Virginia – both with a focus on servicing mortgages – and introduced a special program for qualified United Nations employees and retirees wanting to finance a home in Nairobi, Kenya.
For more detail, read the 2016 winner profiles.