The credit union industry is mourning the passing of Rex Johnson, who founded Baxter Credit Union and Lending Solutions Inc.
Johnson passed away peacefully on April 2, surrounded by his loving family. He was 77 years old, BCU said in a prepared statement posted Monday.
“I have always been so proud to say I worked for Rex Johnson,” Baxter Credit Union President/CEO Mike Valentine said. “Following his lead as BCU’s CEO is something I’m extremely humbled and honored to have been given the opportunity to do. No one taught me more about credit unions than Rex, a sentiment shared by many of us in the industry. That’s quite a legacy.”
In 1980, Johnson led the merger between American Hospital Supply and Travenol Employees Credit Unions, which was chartered as Baxter Credit Union in 1981.
Under his leadership, BCU became one of the fastest growing credit unions in Illinois, reaching $300 million in assets and 72,000 members in just over a decade. Today, the Vernon Hills, Ill.-based BCU manages assets of $4.4 billion and serves nearly 300,000 members.
In 1994, Johnson founded Lending Solutions Inc. in Arlington Heights, Ill.
In addition, Johnson authored four best-selling books and lending videos, according to LSI.
In 2000, he was inducted into the Illinois Credit Union Hall of Fame and CUES Hall of Fame.
He also received CUNA’s prestigious Phil Greer Lifetime Achievement Award in 2017.
“Rex’s message was simple – ‘Help people by ‘seeing what no one else sees”‘ – his mantra from the movie Patch Adams,” LSI said in its prepared statement.
In December 2018, LSCI hosted a celebratory University of Lending, Rex’s flagship training school, in Las Vegas to commemorate his retirement. The school featured keynote speaker, Hunter Doherty “Patch” Adams, the physician and social activist on which the movie “Patch Adams” is based.
“My father changed how credit unions lend and interact with members. His tireless efforts for 40 years to promote serving members and filling credit unions with passion has also changed the way they do business,” Lorrie Wohlfeil, COO at LSCI, said. “His message of ‘seeing what no one else sees’ will continue to steer the credit union movement to a better place. We could not be more motivated to continue to grow his legacy.”
Connie Johnson, Rex’s wife of 55 years, their children, along with the employees of LSCI said they are committed to building on Rex’s message.
True to form, Johnson kept fighting until the very end. His passion in his later years was to ensure that no one else suffer from Alzheimer’s, donating his brain to help scientists find a cure for this dreadful disease, according to LSCI.
In lieu of flowers, donations can be made to the Cure Alzheimer’s Fund at curealz.org.