GRAND FORKS, N.D.–Cheryl Malm, the longtime CEO of Med Park Credit Union here, is retiring after more than 30 years of service to the industry.
Malm was named CEO of the $20-million Med Park in 1997.
In announcing the retirement, the Dakota Credit Union Association shared an earlier CEO Spotlight it published in which Malm was profiled.
According to the Spotlight, Malm was a “city kid” who grew up in Grand Forks and was athletic, even though at the time there were no girls’ competitive sports teams. She credited her parents for their strong support, and got her first job at Norby’s Department store, before graduating from Grand Forks Central High School and then marrying her high school sweetheart and starting a family. Malm also led the Right to Read Program in East Grand Forks for a number of years, and also volunteered for Meals on Wheels, taking her children along with her to meet elderly people.
After working full-time in medical collections for the North Dakota Hospital Association, she was hired as a collection supervisor in 1989 at 1st Liberty Credit Union on the Grand Forks Air Force Base.
‘She Was Hooked’
“This was her first experience with the credit union industry, and she was hooked. The people helping people philosophy was right up her alley,” the DCUA said. “Soon she was promoted to loan and collection manager, and also was branch coordinator.”
While at 1st Liberty FCU Malm took classes at the University of North Dakota (UND) and also at the college located at the Grand Forks Air Force Base.
In 1995, in the wake of the horrific bombing at the Alfred P. Murrah Federal Building in Oklahoma City, Malm was asked to travel to the then Federal Employees Credit Union (now Allegiance CU) that had been destroyed in the blast, where she remained for three weeks.
The New CEO
In 1997, Malm joined Med Park Credit Union as its new CEO.
Med Park Credit Union has a closed charter, with membership limited to doctors, medical staff, technicians, medical or nursing students, and all other individuals who work in the medical field in Grand Forks County, North Dakota and Polk County, Minnesota, and members of their immediate family or household. The credit union was established in June 1965, and is just approaching their 53rd year of serving their community.
“The staff I have is so good, and they work so well together. I am a firm believer in this: Clients do not come first; employees come first,” the DCUA quoted Malm as saying. “If you take care of your employees, they will take care of the clients. I have found this to be so true. I love people – so working with the public in this job is right up my alley. I have always had an open-door policy, so people can walk in any time. I will stop what I am doing and give them my full attention. The truly challenging part of my job is keeping up with all the changes to regulations and policies.
Malm has also been active in the Maurie C Byrne Chapter, and served on the board of Midwest Corporate Federal Credit Union.