GLENDORA, Calif. – After being elected to the Glendora City Council in March, Mendell Thompson, president and CEO of $303 million America's Christian Credit Union, was able to make an immediate positive impact for local CUs.
"I was able to get the city to place some of its liquidity deposits at credit unions," Thompson said. "The city had invested in bank CDs for years, and I raised the question as to why there were no deposits in credit unions. I pointed out credit unions are safe, strong and believe in the same things the city does."
Thompson said America's Christian CU did not accept any city deposits because he felt that would be a conflict of interest. "I did not want to be in the middle of that. I just made sure credit unions should be an option," he explained.
Thompson laughed when asked if he had any plans to ban banks in Glendora. His election made headlines earlier this year after Thompson was the
Credit Union Journal asked Thompson to look back at his first year (really, about eight months) on the city council:
Credit Union Journal: What led to your decision to run for a city council seat?
Thompson: My wife and I, and our kids, have lived here 30-plus, and the credit union moved here 10 years ago. The city has been very good to us. A friend of mine was serving on the council and decided not to run again. That person encouraged me to run because my financial background would be good for the council.
I am 61 and decided it would be a way for me to give back to the community, and if I'm going to do it I had better do it before I got too old. I talked to my board a couple of times and confirmed that my running was okay with them. I filed, put my hat in the ring, and did all the steps one has to do to get elected – making phone calls and knocking on doors. There were six people running for three seats, and I was No. 2. I am the only one on the council who has a financial background, which is a good thing.
CUJ: How much work do you have to do for the council on a weekly or monthly basis?
Thompson: The time varies, but on average it is about 10 to 12 hours per week, most of which is on weekends. The council meets every two weeks, so those weeks are a little heavier with prep and reading. The off weeks are not as heavy. Our city is small: about 52,000 people and 20 square miles. There are events we are asked to attend, such as ribbon-cuttings. I pick and choose which ones I attend because my loyalties are to ACCU. I don't let anything interfere with my day work. I have a great team that supports me here at the credit union.
CUJ: Does your being on the council affect your position as CEO of the credit union, either positively or negatively?
Thompson: Up to this point, I can say it has been a positive experience. People relate me and ACCU to what my city function is. The feedback I get has been positive because of the financial skills I bring to what the city needs. Our business is in town and has given back for many years. We do
I know there are going to be issues that will come up that I will have to vote on, and a segment of people will disagree with my vote. I expect I will get a little grief when that happens, but up until now – I have only been on the council since March – it has been nothing but positive. I even get a chance to answer the question: what is a credit union?
CUJ: What does being on the city council mean for your credit union?
Thompson: It has given me a chance to talk about credit unions. It lets me know that despite 100 million members across the country, there still are people who do not understand what credit unions are. It has let me support the industry as a whole and credit unions that are visible in our town. I encourage people to consider credit unions.
Some people ask me why I ran. It has given me a chance to talk to our local Congressmembers as an elected official, not someone who was trying to lobby them, which has given me an open door. It is not for everybody, but it would be good if we had more credit union folks running for office – city council, school board or county commissioner. It is a wonderful place to affect change. I would encourage others to do so.
CUJ: How long is your term? Do you plan to run for a second term when this one is up?
Thompson: My term is four years. I am three-and-a-half years from the end, but it is amazing how quick the first year has gone. I honestly do not know if I will run again. There are so many things that go into that: family, my health, city issues, the tenor of the voters, if I am retired or still working here; so many things I just do not know. I am so blessed to have the chance to serve the folks who live here and shape the policies that make life better in the city. If it is only one term it still will be a great run.
CUJ: Any other future political plans?
Thompson: No. That is an easy one. I have no political plans past this. As I said I am 61, and by the time my term ends I will be 65. My wife and I have four beautiful grandkids and they are growing up fast, and I want to be a part of their lives. I never thought I would be in the spot I am in now. I am learning how government works, and it is an interesting thing. I am just going to be the very best I can be and try to accomplish a couple of things for the city.
