Capital CU & Qualstar CU Bring In New CEOs
Laurie Butz and Michael Elfstrom to begin their time as leaders of their credit unions.
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.
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.