RIVERDALE, Utah-It is a good thing the National Credit Union Foundation's Herb Wegner Awards aren't dependent upon self-nominations; otherwise the story of Rick Craig's career and accomplishments might never have been told.
The foundation has named Craig the winner of the 2013 Herb Wegner Memorial Award for Lifetime Achievement. The retired CEO of $5.5-billion America First Federal Credit Union here will be honored at a dinner hosted by NCUF at the Grand Hyatt Washington this week in conjunction with CUNA's 2013 Governmental Affairs Conference.
Craig has lived an extraordinary life, including a stint with the National Security Agency in Turkey during the Cold War, multiple educational degrees that include a master's in engineering, 35 years in management at America First, and 31 years on the faculty of Western CUNA Management School. He has held leadership positions at the local, state and national levels by serving on various boards and committees in the credit union system, including the Credit Union Executives Society. He is a member of the CUES Hall of Fame.
Yet in a recent interview with Credit Union Journal Craig deflected all of the praise and honors sent his way to the people he has worked with through the years. For example, when asked what one memory sticks out above all others from his career, he said, "The impact people had on me. I met many terrific people along the way and all of them were very dedicated, and that certainly made a difference in my life."
Evolution of Technology
About the only way to get Craig to talk is to ask questions that do not directly involve him. He said the most significant change he witnessed during his lengthy career is the application of technology on financial services.
"There was an evolution of the Internet and electronic banking," he recalled. "I was there when we put the first computer in the house [at America First] in 1978. It communicated with teletype machines. It was one of the first IBM machines that came off the line."
The development of electronic services is the biggest development for CUs, Craig assessed. He said the various e-capabilities have "allowed us to grow, and to serve more members more efficiently. We just have to make sure we are fast adapters of any innovations in the financial marketplace. Whether it is the iPhone or social media services, we are competing with banks."
Some of Craig's fondest memories relate to Western CUNA Management School. After Craig's graduation from WCMS in 1981, he began teaching at the school and served on the faculty without interruption for 31 years until his retirement in July 2012.
In addition, Craig is credited with being responsible for the overall design of the financial simulation module, finance classes that introduced credit union analysis to beginners; and the highly successful "big circle" discussions, wherein current day issues, challenges, and successes are discussed.
"Rick has touched more than 3,000 credit union professionals who have gone on to achieve great things for our credit union movement," said James Likens, the president and CEO of Western CUNA Management School and chairman of the board of First City Credit Union. "He has imprinted the values of credit union philosophy, innovation, advocacy, and leadership on those who have had the honor to be associated with him. These values have produced generations of credit union leaders with both the analytical skills and philosophical commitment to contribute to the sustainable momentum of the movement."
Need For A Head And A Heart
Craig said what he remembers of his time at WCMS is "all the great people I associated with over 31 years, both the faculty and the students that came through."
"The school evolved to meet the changing needs of credit unions," he declared. "I was at WCMS for so long because I agree with the philosophy that you need a head and a heart to run a credit union. There needs to be a focus on members and their needs, and if you provide financial services from their perspective you will never go wrong. In times of economic adversity you work with members to help them. Credit unions are for people, not for profit."
Cold Warrior, CU CEO
After graduating high school, Craig worked with the National Security Agency in Turkey listening in on communications from across the border of the then Soviet Union, where he became proficient in code and computer programming.
When he left the military he settled in Utah, where he continued to do sophisticated computer work for the federal government.
Craig earned a bachelor of science degree in mathematics with a minor in physics from Weber State University. Later, he added a master's degree in engineering from the University of Utah. He also taught mathematics and data processing at Weber State University
Craig moved to America First FCU and became executive vice president in 1977. In 1997, he was appointed president and CEO, before officially retiring Sept. 1, 2012.
"I know Rick received many inquiries from search firms inviting him to apply for CEO positions, but he said no to them all," said WCMS' Likens. "He has been an incredibly effective CEO. On his watch, the credit union has achieved $5.4 billion in assets, 575,000 members and 100 branches."
"The credit union has a laser focus on serving its members and doing whatever it takes to help them achieve financial success if the member is willing," said Diana Dykstra, president and CEO of the California and Nevada CU Leagues.
In addition to the credit union's many community activities, Craig is regarded as a leader in adopting new technologies at America First FCU to benefit members and to make managing money easier.
"Led by Rick Craig, America First FCU has been a proven leader in the introduction of a great number of innovative products and services to enhance service to members," noted Dykstra. "Rick cultivates great talent and encourages creativity in moving the credit union forward."
Supporting the CU System
Craig served many years on the Utah Credit Union Association board and was appointed by Utah's governor as a member of the Board of Credit Union Advisors. He has been a director of CUES board and was chairman in 1995. In 1996, he was inducted into the CUES Hall of Fame and was selected as the CUES Executive of the Year in 2004.
In addition, Craig served on the Filene Research Council, is a board member of CO-OP Financial Services, and on the CUNA Committee on AICPA Audit and Accounting Guide Task Force as well as CUNA's Governmental Affairs Field of Membership (FOM) Committee.
Craig has been credited for leading America First FCU in impacting the political process. For example, through multiple lawsuits and legislative attacks, America First FCU modeled a form of public and government advocacy that many in the industry would follow. America First FCU was recognized as having the most "Outstanding Political Action" program in the country.
"One of the most visible actions Rick took on behalf of credit unions was the fight with the Utah bankers who were aggressively attacking the credit union tax exemption," recalled Dykstra. "These efforts increased the awareness that being actively engaged in the political and legislative arena was important for all credit unions."
"Not only has his credit union supported candidates that support credit unions-especially through member advocacy-but Rick has also made exemplary strides in activating his membership," said Utah Congressman Rob Bishop. "By gathering a group of member-advocates, he has created a political group of 'minutemen,' who can rally on behalf of the credit union at a moment's notice. I often say that the world is run by people who show up, and Rick has taught many credit union members to show up and get involved in their government."
The 'Ideal'
"When I think of an individual who has dedicated his lifetime to not only his job but also an ideal, I think of Rick Craig," said Scott F. Simpson, President/CEO of the Utah Credit Union Association.
Craig said the increase in involvement in legislative activities by individual credit unions and their members is a vital development for the movement.
"In the 1970s political advocacy was just left up to the state leagues or CUNA," he said. "Now we have e-mail addresses for members and keep them up to date on things that will impact credit unions, and they are willing to contact legislators to make their opinions known.
"We are more involved, but I am not sure the political process itself has changed," Craig continued. "There are some things that still need to be improved. We need more individual credit unions and members involved in the process."
According to Craig, continuing to expand political involvement is something credit unions simply must continue in the years ahead. He said one quote he has used often is, "What the legislature permits or prohibits is going to be the future of financial services," which is why it is so important.
"Also, without a good wife and the support of family, none of my service would have been possible," he said. "The board and the staff at America First will continue to provide great service after I am gone. Anyone who thinks awards are won by them is mistaken. It is a result of many people in many different areas."
