Tom Smith
The Maple Grove, Minn.-based TopLine Financial Credit Union will experience a leadership change in 2023 as its President/CEO Tom Smith announced his plans to retire after serving more than nine years in the leadership role.
Tuesday's announcement from TopLine ($735 million in assets, 49,007 members) stated that the credit union's Board of Directors also named Smith's successor to be the current Chief Financial Officer, Mick Olson.
Olson will take over as CEO once Smith retires in May 2023.
According to details from TopLine, Olson will serve as the credit union's chief operating officer and executive vice president effective Dec. 1, as part of the transition plan.
Smith joined TopLine in May 2008 as the credit union's chief lending officer and was named CEO in January 2014. During his tenure, the credit union has grown from $340 million in assets, with just over 40,000 members.
"It's been a privilege and honor to have had the opportunity to lead this great organization since January of 2014," said Smith. "I've had this amazing opportunity working alongside my TopLine family delivering on the credit union Purpose every day with Passion to make a make a positive difference in our members' lives and our communities; this is quite exceptional and unique.
"TopLine's future is very bright under my successor, Mick Olson. He joined the TopLine family in 2006 and has been key in developing TopLine's strategic direction and achieving strong performance, and will continue to move TopLine forward," Smith added.
In a prepared statement, TopLine Financial Credit Union Board Chair, Paul Jacobsen said, "I would like to thank Tom for his 14 years of dedication to TopLine and the industry. He has led the credit union with integrity, passion and vision, and under Tom's leadership, TopLine has experienced tremendous growth, fostered a culture of inclusion, kept pace with innovation to best serve our members; and has kept a keen eye on the betterment of our communities. Tom's contributions have positioned the credit union well for continued success and will always be valued. On behalf of the board, we thank him and wish him well in his well-deserved retirement.
"TopLine has served our communities for over 87 years, and we look forward to building on its strong foundation and financial condition and enhancing our reputation and mission of People Helping People under the leadership of Mick Olson," Jacobsen added.
Of note, during Smith's leadership as CEO he helped in the development of the TopLine Insurance Agency CUSO and the credit union's 501 (c)(3) philanthropic foundation, as well as expanding the credit union's field of membership to include 11 counties surrounding the Twin Cities metropolitan area.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Michael Ogden
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.
