"More and more credit union members are looking to consolidate investments, particularly in deferred income accounts, to help establish a revenue stream for retirement," Eckhardt said. "They also want to assure that their heirs are provided for."

One advantage Alaska USA FCU and its members have is being in a state with one of the most liberal and attractive trust laws in the nation. The Alaska Trust Act was signed into law April 1, 1997 and allows a maker of an Alaskan trust to place money in a trust which can last forever, protect it from the trustor's creditors, and, if drafted properly, exclude the money from the trustor's taxable estate, even if he or she is an eligible beneficiary of the trust. Prior to this law, in order for a trustor to be able to protect assets from creditors and to be eligible to receive the money from the trust, he would of had to create such trusts offshore, in places like Cook Island, Cayman Islands and Bermuda.

Alaska is also attractive for trusts because it has no state income tax, so income that is accumulated by the trust is free from state tax. This can be an enormous tax savings because there will not be any gift or estate taxes as the trust passes from one generation to the next.

The passage of the ground sweeping legislation is just one of many changes Eckhardt has seen over the nearly 40 decades of service in credit union land. His management style has allowed Alaska USA to embrace change and put the credit union in the forefront, especially in the still green area of trusts. In the nomination narrative for NAFCU's 2001 Professional of the Year he's described as the "strong, silent leader."

"He listens hard and well," the narrative goes on. "He asks questions and never pretends to know something he doesn't. He probes until he gains insight. He offers opinions thoughtfully and carefully. He encourages those around him to be free in their opinions and ideas and works constructively to find lasting solutions to complex problems."

Eckhardt's inquisitive yet innovative leadership style shouldn't come as too much of a surprise given that his great, great uncle was the legendary Buffalo Bill Cody. Known for his horse wrangling showmanship, Buffalo Bill rode the Pony Express and served as a Union scout and solider during the U.S. Civil War. In 1883, he organized the famous "Wild West Show" with which he toured America and Europe. This exhibition showed much of the actual early life on the plains, with its band of Native Americans, cowboys, roughriders, bucking broncos and buffaloes. A renowned marksman, Buffalo Bill became popular by often shooting buffalo and bringing fresh meat to trainmen and soldiers working on the Kansas Pacific Railroad.

Eckhardt shares the love for the outdoors with his famous relative. The Alaskan native and "avid outdoorsman" has a fishing compound on the famous Kenai River, and operates a fishing and hunting charter vessel in Seward, Alaska.

Meanwhile, Eckhardt has been tied to the vision of what trust services can look like for credit unions so long as he knows what works and what should be scrapped.

"Trust services have a relatively high administrative cost and relatively low volume compared to other types of financial services," Eckhardt said. But they also require a long-term commitment to the members, have relatively high capitalization requirements and on average, take 12 years to achieve profitability, he added.

Still, "credit unions are well positioned to be the trusted provider of these services to their members, and can add value over time to the credit union relationship," he believes. A recent Alaska USA FCU survey indicated that approximately 15% of its adult members are thinking about including a trust in their estate plan, he said.

Outside of trusts and overseeing one of the country's largest credit unions, Eckhardt does manage to find the time to unwind. He is an avid Little League fan with both his sons active in baseball. Debbie, Eckhardt's wife of 10 years, can also be seen cheering the boys on at the games. One of Eckhardt's passions is his service with the Alaska USA Foundation, a public charity established to support services for children and veterans in need, of which he is a founding member.

Rarely, if ever, do you see banks referring clients to their competitors. Eckhardt said trust services are certainly one area where a cooperative network beats going independent. A "good option" is MEMBERS Trust Co., the Tampa-based entity launched in 2004 by $5.1 billion Suncoast Schools Federal Credit Union and owned mutually by several dozen credit unions and CUNA Mutual Insurance Society, he suggested.

"It presents a very viable alternative to developing an in-house trust operation," Eckhardt said.

Of the number of casualties that the industry has seen with the shutdown of trust service operations, Eckhardt reiterated that member need must be a driving force and credit unions going this route, must remember it is a long-term financial commitment.

"Many financial institutions, particularly banks, subsidize trustee services because they foster relationships with their high revenue clients," Eckhardt said. "Credit unions generally see trust and investment services as a service that a growing number of members will need, but may not have access to without credit union options." [email protected]