The CEO has left her mark on nearly every aspect of the industry, spearheading advances in IT, marketing, CUSOs, management style and various industry boards and committees. She began her career in 1966 as a loan officer at what is now Northwest Community Credit Union. During her 21-year tenure at the credit union, Milosevich said she "did every job there was, with the exception of repossessing cars, which they literally did back in those days."

After working her way up to assistant general manager, Milosevich made a lateral move to SELCO in 1987, arriving to work under the leadership of former CEO Dick Boettcher, whom she considers a mentor.

"I told my husband, the only credit union I'd ever want to manage was SELCO so I've always wanted to be here. I knew Dick would be retiring someday, and I figured if I was already here and had shown people what I could do, I'd have a better chance of getting the job," she said.

Boettcher gave her more than enough opportunity to prove herself, turning over every department to her, except marketing, by the time he retired in 1990.

Not surprisingly, the tireless Milosevich was named the new CEO. At that time, SELCO had $120 million in assets, 29,000 members, 83 employees and three branches. Now, the institution is on its way to the $1 billion club, boasting nearly $700 million in assets, 85,000 members, 230 employees, 11 branches, and a reputation for innovative member service.

In addition, Milosevich has achieved an abundance of credentials in industry organizations, including serving on the board and as an area representative for CUNA, chairman of the Credit Union Association of Oregon, a director with NACUSO, member of the Filene Research Council, and a director with the Oregon Credit Union Foundation, among others.

When asked of which accomplishment she is most proud, it's not surprising that Milosevich is quick to name her innovative and somewhat controversial new enterprise, The Lending Outlet, a department within SELCO that is branded as a community loan source with no mention of the credit union.

Milosevich says the retail division provides a much-needed source of small loans to the community, which the credit union was not effectively providing before.

"When we looked at our data, we discovered we weren't serving our borrowers in the mid- to lower-income range. We asked ourselves, 'why is that?' because we were doing risk-based lending. What we found out is that people weren't seeing us as a source for that. So we decided to brand and market an outlet that's fast and autonomous. It's an outreach at the street level to meet our community's needs. We had an option to create a CUSO that was a loan company, but we elected not to do that because we wanted them to be members, and we wanted them to look at the credit union for other things besides loans. But marketing it as The Lending Outlet works, because sometimes people want something fast without a lot of to-do over it," she said.

Like the famous saying, "Well-behaved women rarely make history," Milosevich recalled that some of her proudest achievements haven't always been popular with her peers, at least at first.

"We were the first in Oregon to do indirect lending, back in 1992, because I recognized that lending is a vital service to the cooperative; however, in starting that, I was very unpopular. I was told I wasn't being true to the credit union philosophy. But I feel you need to be where the members are as best you can, and partnering with dealerships may not have been popular, but it was what members wanted. Did we learn lessons along the way? You bet. Did we have to learn how to manage it? You bet. Was it the only channel available to members? No, but you still have to go where your members are," she said.

Industry consultant Tom Davis, who has worked with Milosevich as a vendor and on the NACUSO board, said that Milosevich's confidence and analytical skills have allowed her to become a bit of a maverick among credit union leaders.

"She does have certainly, a level of confidence that allows her to break through what I would call conventional thinking and replace it with critical thinking, in order to move the industry forward. She is really good at addressing those tougher issues that other people may not be so willing to embrace. I think she has a rather grand capacity for a) being willing to take the tough road; b) having the confidence of saying I think I know how to get there; and, c) accepting there will be elements of resistance," he said.

While Milosevich is known nationally in credit union circles, home is where her heart is, said Gene Poitras, president of the Credit Union Association of Oregon.

"I suppose her accomplishments, with CUNA and the other groups, have brought a certain level of status to Oregon. However, at the end of the day, she truly wants to make a difference in the lives of her members, and in the lives of the people of Oregon," Poitras said.

Americans increasingly strive to separate business from emotions, preferring to sterilize transactions with a "don't take it personally, it's only business" attitude.

Ava Milosevich is not one of those types of executives.

"Her attitude isn't just here I am, building an organization, but here I am, helping people and holding their hands through difficult situations," Davis said.

Milosevich isn't just an innovator in marketing and operations, she also has developed a unique management style that matches her welcoming personality. In addition to a truly open-door policy with employees, the CEO was ahead of the industry curve in 1990 when she actively began building a culture of leadership within the credit union.

"As a brand new CEO, I wanted the credit union to be a place I wanted to work, a place where people were respected and trusted, and felt their responsibility. Creating an environment where people are confident to be leaders has saved the credit union millions of dollars in the long run. It's all about helping people be better within themselves, and the members feel it too," she said.

Structurally, the CEO created an entrepreneurial team made up of Milosevich and retail-oriented senior management representatives.

"We meet every two weeks and talk about nontraditional services that could be available through the credit union. We've had a number of ideas, with The Lending Outlet being the first idea we've got going. We're a think tank for new ventures, to leverage the future of the member relationship–we try to create products and services that fill the gaps for members," she said.

Entrepreneurial team ideas are then passed to an operational team, made up of operational-oriented senior managers, who hammer out the details.

Despite Milosevich's 40-year dedication to the credit union industry, the outgoing CEO was adamant that come Feb. 2, credit union financials would not be on her mind.

"I'm committed to living a vibrant life, and whatever that entails for me, it will include working with people to be the best they can be," she said. –[email protected]