KENT, Wash.– Cascade Federal Credit Union President and CEO Carl Roer is retiring at year-end after having served in credit unions for more than 40 years.
During his term as CEO, Roer oversaw asset growth of more than $55 million to about $350 million, as well as record loan growth and capital and a recenter merger.
Below, Roer shares his thoughts, lessons learned and more as part of this CUToday.info Exit Interview:
CUToday.info: How did you come to be involved in credit unions?
Roer: I was working at a community bank in the 1970s. The bank was sold, and the branch was being closed, so I walked into the nearby credit union, Seattle Telco, and was hired on the spot.
CUToday.info: What have you learned about driving growth and has that changed or evolved during your career?
Roer: I have learned that growth requires a very proactive and creative approach, using data, prescreens and media. At the beginning of my career, we relied on our employer sponsor for growth. Now we compete with banks and even other credit unions, with less employer support.
CUToday.info: What have you learned about managing people, and has that changed or evolved during your career?
Roer: At the beginning of my career, managing people was largely a top-down approach. Now I have learned to be much more inclusive in managing people. It’s very important to obtain staff input and buy-in.
CUToday.info: What advice would you have for a new CEO?
Roer: Don’t make too many changes at first. Spend time getting to know the staff and culture. Give the existing management a chance to prove themselves, rather than coming in and making wholesale changes.
CUToday.info: What is your view on the future of credit unions, if there is to be one?
Roer: I think the future of credit unions is positive. The public largely appreciates local and not-for-profit financial institutions. However, I believe the trend of very small credit unions merging into larger ones will continue. To compete in technology and the regulatory environment, it helps to have the resources of a larger credit union.