Capital Credit Union's new President/CEO, Laurie Butz.
Capital Credit Union in Green Bay, Wis., and Qualstar Credit Union in Redmond, Wash., announced two new leaders for their credit unions on Thursday.
In the Badger State, Capital Credit Union ($2.1 billion in assets, 130,437 members) said after a nine-month nationwide search, Laurie Butz will begin her new job as president/CEO in early November. Butz will take over for Tom Young, who has been with the credit union for 30 years and will retire at the end of 2021.
"We are excited to welcome Laurie to the Capital Credit Union family. She will be a fantastic asset to the credit union, and her background and knowledge will be invaluable to the future growth of our organization," Capital Board Chairperson Steve Frassetto said.
In a statement from Capital, it said Butz has nearly 35 years of financial industry experience, including 11 years at the Neenah, Wis.-based Community First Credit Union ($4.6 billion in assets, 147,654 members) where she served as SVP of business development, investments, insurance services and the Fox Cities Marathon.
Butz said of her new position, "I'm looking forward to meeting the Capital Credit Union team, the members and the community at large in the coming months as we forge ahead in living out the organization's mission. Serving our members, being stewards of the community, and being passionate about the credit union industry align with my focus on caring for employees and our friends, families and neighbors in Northeast Wisconsin."
Out west in Redmond, Wash., Qualstar Credit Union ($787.7 million in assets, 69,310 members) announced that Michael Elfstrom has started his new role as president/CEO.
Elfstrom replaced Mark Nelson, who retired at the end of September after 37 years with the credit union.
Michael Elfstrom Elfstrom is no stranger to Qualstar. He's been with the credit union since 1993 where he began his career as the credit union's accounting supervisor. Since that time, according to Qualstar, he has served as the credit union's CFO and EVP.
"Improving our members' financial lives and building their trust are core to what we do. I look forward to continuing to support our members and employees as Qualstar's CEO," Elfstrom said.
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Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
