AUSTIN, Texas-Whoever said that a prophet is never recognized in his own land apparently has never met Paul Trylko.
As president and CEO of Amplify FCU, Trylko has swept numerous local business awards in his adopted hometown of Austin, Texas, including the Austin Business Journal's 2012 Best CEO award. In 2012, Amplify also won Best Customer Service award and was a Best Innovative Practices finalist in the Austin Chamber of Commerce competition.
For Trylko, Amplify's leader since 1998 and winner of NAFCU's CEO of the Year award for credit unions with assets between $151-$750 million, success boils down to a strong member service profile and the pursuit of leading edge technology in financial services delivery. In this case, the two emphases are interlocked thanks to Amplify's legacy as the former IBM Texas Employees Credit Union (IBMTECU).
"Austin being what it is, technology plays really well here," said Trylko, a western Pennsylvania native. "We were a pioneer in technology because our members expected it."
Trylko arrived at IBMTECU in 1989 as controller, moved to the EVP position and then became president and CEO in 1998. In 1989 the credit union had $59 million in assets and served Austin-area IBM employees and their families. Today the credit union has more than $600 million in assets, boasts a community charter and serves 45,000 members from seven locations within five counties adjacent to Austin.
Much of the growth has been driven by a service culture defined to meet member needs, which, in Amplify's case, strongly emphasize mobile delivery. The credit union's efforts stretch back 20 years or more to ATMs designed to accept member checks for deposit at a time when many credit unions hadn't yet considered the technology.
In-House Software Team
Amplify is on its second generation of mobile banking technology, largely made possible due to the credit union's in-house five-member software development team. Dedicated entirely to matching members needs to emerging trends, the team has changed the credit union's nature and capabilities, Trylko said.
"It's a healthy investment, but the reward is getting new products and services out quicker and working with an internal data warehouse to make us more efficient," he said.
Mobile check deposit, still a favorite member service, is one example. Monthly usage by an average of 1,000 members results in the deposit of 2,500 checks per month for a total of about $1 million. Amplify's increased member service through technology also results in significant operational costs savings for the credit union.
Strong Financials
Other financial indicators point to Trylko's strong leadership. In 2012, Amplify earned a record net income of $6.5 million, an amount greater than the income from years 2006-2010 combined. That same year saw a loan-to-share ratio of nearly 90%, a net loan charge-off ratio of just 0.27%, investment yield of 2.89% and return on assets of 1.10%.
In 2012, Amplify's equity reached a record level of $52 million at yearend, resulting in a net worth ratio of 8.46%, further strengthening the company's balance sheet. The credit union also added deposits of $43M or 8.8% over 2011, which led all locally based credit unions for 2012.
The name change from IBMTECU to Amplify in 2006 was a strategic move designed to stress the role the credit union should play in its members' financial lives, Trylko said.
"What we want to do is 'amplify' the financial wellbeing of our members and be a beacon in the community," Trylko said.
Member response seems also to have significantly amplified the credit union financial position, setting the stage continued strong growth in member service.
