Innovation and inclusion have been cornerstones of Diana Dykstra’s career.
Dykstra, president and CEO of the California and Nevada Credit Union Leagues, has been part of the credit union movement for more than three decades. During that time, she has served as an executive at several California institutions, worked with the World Council of Credit Unions in providing assistance to CUs in developing countries and was a founding member of the Global Women’s Leadership Network.
When she was working at Golden 1 Credit Union in 1992, Dykstra helped develop what eventually would become the CU Direct lending program.
All of this has led to Dykstra being a recipient of the 2019 Herb Wegner Memorial Outstanding Individual Achievement Award from the National Credit Union Foundation. The foundation cited her “influential and visionary leadership” in choosing her for the award.
“Diana’s work not only throughout California and Nevada, but nationwide has been exemplary,” John Gregoire, chair of the foundation’s Wegner Awards selection committee and president of the ProCon Group, said in a press release. “Through her vast contributions to the movement from the CU Direct lending program to her mentorship of the next generation of leaders, Diana is more than deserving of this award.”
Dykstra and two other Wegner Award winners will be honored on Monday during the Credit Union National Association’s Governmental Affairs Conference in Washington, D.C.
The following is an edited Q&A with Dykstra.
CUJ: You have spent more than 30 years in credit unions. There is a saying that age gives one perspective, if not wisdom. What is your perspective on credit unions in the 1980s versus credit unions today?
Dykstra: What has changed is the way people access their money today, compared to the 1980s when everything was done in the branch and on paper, and the Internet was only a dream at a few universities.
CUJ: One word that comes up over and over again when people talk about you is “passion.” Where did your passion for credit unions come from?
Dykstra: I worked for Bank of America for six years before I started at the credit union. It was an eye opening experience for me in that if you didn’t have money you got the lowest level of service. When I arrived at a credit union I was thrilled that every member was treated equally and with respect. It was easy to become passionate about what we do because at our root we have the opportunity and responsibility to changes people’s lives.
CUJ: You have served as a credit union executive and as the head of one of the largest state leagues in the country. Describe the unique challenges each job has.
Dykstra: I don’t consider anything a challenge – just an opportunity. Being a CEO of a credit union, we needed to make sure that we were providing the products and services that our members deserved while balancing the legislative and regulatory limitations. As the CEO of the league, my focus shifts first to protecting and improving the legislative and regulatory environment so credit unions have an operating environment that doesn’t limit their ability to serve the needs of their members.
CUJ: When you were at Golden 1 Credit Union you developed what eventually would become CU Direct. What was your original goal?
Dykstra: CU Direct was never a goal. I had a problem and that was making it easy for our members to get a loan with the credit union. In the old days, the member would look for a car, mostly on the weekends, purchase and sign a financing contract with the dealership in which they had seven days to get a loan from the credit union or get stuck with a bank loan. We had just began to automate the internal lending process and wondered if we could somehow expand that access to car dealers.
CUJ: You speak regularly about a number of issues of import to credit unions, including preserving the tax exemption and establishing financial literacy programs to introduce people to credit unions. What issues are you keeping an eye on today?
Dykstra: What day? Today’s world moves very quickly and is evolving even quicker with fintech companies encroaching on the traditional credit union business. I can’t name the number of agencies, regulators and legislative actions that we must monitor on a daily basis. What worries me today will be different tomorrow.
CUJ: You were one of the founding members of the Global Women’s Leadership Network. Please talk about the importance of GWLN to the credit union movement.
Dykstra: Fifty percent of the CEOs here in the U.S. are women and internationally women are a critical part of the financial well-being of their communities. GWLN was started to connect women both locally and internationally to give support and mentoring to one another. It has had a huge impact across the world and one that I am very proud of.
CUJ: What is next for Diana Dykstra and the California and Nevada Credit Union Leagues?
Dykstra: Not sure exactly what is next – there is always a problem to solve whether it is in the credit union space or somewhere else. At the moment, outside of credit unions, I am interested in education inequality in the U.S. and the impact it has on our economy. There are a multitude of other social issues that impact my one little focus and I am currently finding people working on different problems and trying to figure out how to bring us all together to solve our social problems holistically.
