CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » PODCAST: Anatomy of a credit union turnaround
Management

PODCAST: Anatomy of a credit union turnaround

Jennifer Borowy led Buckeye State Credit Union to a brighter future.

October 11, 2018
Ron Jooss
No Comments
Jennifer Borowy

Jennifer Borowy led a credit union turnaround before she turned 30.

When she took over as CEO of Buckeye State Credit Union in Akron, Ohio, in the fall of 2016, the credit union had lost $1.3 million the previous year and $3.5 million during the previous three years.

As Borowy tells it, she spent virtually every day and night at the credit union for the next three months digging into the general ledger and formulating a stability plan.

Borowy found a way to not only turn Buckeye State around, but to transform its culture. In 2017, the credit union earned $855,000 and in one year grew its net worth from about 6% to over 8%.

What’s more, as of June 2018 Buckeye State saved its members more than $5 million in loan payments during the previous two years.

Borowy was named a 2018 Credit Union Rock Star by Credit Union Magazine.

In this episode of the CUNA News Podcast, she describes the turnaround.

Editor's note: Since the taping of this podcast, Jennifer Borowy has left Buckeye State Credit Union.

KEYWORDS credit union culture leadership Podcast turnaround

Post a comment to this article

Report Abusive Comment

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • NCUA proposes raising threshold for ‘complex’ CUs

  • Compliance: 2020 Year in Review, Checklist now available

  • NCUA’s 2021 supervisory priorities reflect COVID effects

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors