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News

Home » CUNA Finance Council turns 25
Leadership

CUNA Finance Council turns 25

Founding members share their thoughts on how the industry has evolved.

May 22, 2019
Bill Merrick
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CUNA Finance Council turns 25
From left: Pam Finch, Mike Lord, Vince Market, Kerry Parker, and Alan Wade

Alan Wade

Executive vice president/CFO, Member One Federal Credit Union, Roanoke, Va.

I began my career at Member One Federal Credit Union in 1990 (then N&W Employees Federal Credit Union) as the accounting manager of the $55 million credit union. A few years later, I received information regarding membership in a new organization known as the CUNA CFO Council. As an aspiring CFO, I felt it would be an excellent opportunity to become involved with a national organization of credit union financial practitioners.

My professional development trajectory has progressed alongside the credit union’s growth curve. Today, I am the executive vice president and CFO at Member One Federal Credit Union, which has more than $1 billion in assets.

Twenty-nine years ago, my role was much more “in the weeds” with a limited staff in the accounting department that required me to become involved in many of the day-to-day tasks. We also lacked the resources of other professional areas of responsibility such as human resources, training, etc.

So, as a department manager I was responsible for all of these areas within the accounting department. As the credit union grew, my role in the organization evolved. As we have employed other professionals and created new departments from internal audit to human resources and training, I have been able to re-focus on more strategic goals, such as investment management, budget development, asset/liability management, and strategic planning.

One of the major challenges for credit union finance leaders today is remaining relevant. As a financial industry, our market size pales in comparison to the mega-banks. Given the progressive focus on technology as a delivery channel for financial products and services, it will become increasingly difficult for credit unions to maintain the requisite investment in resources necessary to remain a viable force in the financial services arena.

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