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When Jed A. Meyer first dreamed of becoming a credit union CEO, it wasn’t for the paycheck or glory. Rather, it was so he could capitalize on opportunities to help people – members and employees alike.
For the latest Trailblazer 40 Below, success is about pushing the envelope of the cooperative structure so credit unions can best deliver on the promise of value.
“My advice to anyone is to figure out where your passion and talents lie and to do what you love,” Meyer, president/CEO of St. Cloud Federal Credit Union in St. Cloud, Minn., said. “I just wanted to make a difference and I found that in credit unions. There’s such great possibility and opportunity in what we can accomplish as a collaborative group.”
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The CFPB is ordering Navy Federal to refund more than $80 million to consumers, stop charging illegal overdraft fees, and pay a $15 million civil penalty.
The list includes six credit unions merging due to poor financial condition and two for poor management.
Astera CU will consolidate with Adventure CU on Jan. 1, and recently merged Hawaii credit unions expect system conversions to be completed next year.
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