President/CEO Tansley Stearns and CFO Scott Cameron of Community Financial Credit Union in a video explaining how credit unions are different than SVB and Signature Bank.
A video posted Tuesday opens on a credit union CEO and CFO sitting on a couch having a casual chat, explaining to members that their credit union and the credit union system at large is not wrapped up in the collapse and failure of the Silicon Valley Bank (SVB) and Signature Bank. The credit union system is different – thankfully.
In the three-minute video, Tansley Stearns, president/CEO of the Plymouth, Mich.-based Community Financial Credit Union ($1.5 billion in assets, 80,634 members) asks her CFO Scott Cameron about his reaction to the bank failures. "My initial thought was, 'Thank God I work for a credit union!' But another thought was I really feel for the individuals that are going to be impacted" by the collapsed banks.
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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.
