NEWARK, Del.-Edwin Grebe has worked in the credit union industry since 1956, longer than some credit unions have been in operation.
Those years of service were recently recognized when he was named the 2008 Outstanding Credit Union Professional by the Delaware CU League. Grebe is currently manager of the $785,000 Newark-Delaware City Employees FCU. Credit Union Journal asked Grebe to reflect on his career and growth of the credit union industry.
Credit Union Journal: What does it mean to you to be named 2008 Outstanding Credit Union Professional?
Grebe: I have dedicated a lot of my life to working for credit unions, and to be recognized for what I've done means a great deal to me. I started back in the '50s with Yorklyn Fibre Workers Federal Credit Union on their supervisory committee. I served as a volunteer with All American Engineering Federal Credit Union, and then I did some credit union auditing for the Delaware league. That helped me get a management position at WS/EDL Federal Credit Union, and then I moved on to manage Hercules FCU. It's really hard for me to think of a year in which I have not been doing something for at least one credit union. While I was at WS/EDL I was volunteer treasurer of Delaware Central Federal Credit Union. When I was at Hercules I had became a board member at WS/EDL and then became their treasurer.
CUJ: You retired from Hercules in 1997, and then took over the part-time role of managing Newark-Delaware City Employees FCU in '99. At age 76, have you considered when you might retire from working in the CU community?
Grebe: I haven't, because I just enjoy helping members. For example, there was a fellow who when I first took over my current credit union had four loans with us and borrowed money every year for the Christmas club. Since I have been at the credit union he's no longer in debt and he has his own Christmas club. Those kinds of things make it worthwhile for me."
CUJ: You've seen the credit union industry grow up?
Grebe: Yes. Times used to be much simpler. I remember at Fibre Workers that our sponsor took money out of the Coke machine every year and put on a party for the workers.Well, one year they decided to cancel the party and put the money into an account at the credit union for all of the workers. Everyone got $5, which was a lot of money back then.That led to a lot of new members — we ended up with about 320 overall. When the Delaware League started we had to put in 25 cents per member to join. Eventually those dues are what caused the credit union to go out of business.
CUJ: How have credit unions changed?
Grebe: Credit unions are more like banks than what we were years ago. We used to be strictly shares and loans. I think adding products has been an advantage because it allows more people to do more of their banking at the credit union, where the deals are almost always better. But the trend is good in some ways and bad in others. I think we've lost a lot of the personal appeal. In a bigger credit union you can't keep track of who your members are. Being in a very small credit union today, I still know most members by name and what their situations are, which allows me to help them."
CUJ: What is the biggest challenge facing credit unions?
Grebe: Regulation. I understand greater regulation is needed, especially at the bigger credit unions. But for the small credit union it really hurts us because we have to keep up with the regulations and we don't have the people to do that. I think that's the reason we are losing a lot of the small credit unions and will continue to do so."
CUJ: You helped found the state league, having signed the original official charter?
Grebe: Yes. I can remember where that charter was signed — at a small restaurant in Delaware. The league gave each of us an ashtray with the league's name and chartering date on it. Back then smoking was big, so the ashtray as a keepsake made sense. Maybe not today. I still have it, and it's in pristine condition.
