PHOENIX - As Troy Stang treks from the Arizona desert to the green forests of Oregon to take over the Credit Union Association of Oregon, he told Credit Union Journal his top priority will be to build on the league’s advocacy efforts started by his predecessor, Gene Poitras.
CUJ: Your career path includes stints with the Texas CU League, the Treasury Department and Arizona FCU. How have these jobs prepared you to head a state association?
Stang: Well first, I am a native of central Minnesota. I spent a decade working at a credit union in Minnesota that was founded by my grandfather, who was a farmer. It was known as St. Mary’s Catholic Redeemer Credit Union, but it has merged several times and today is known as Central Minnesota Federal Credit Union. It is one of the largest agricultural credit unions in the country.
I spent a handful of years in Texas, working hand-in-hand with [TCUL President and CEO] Dick Ensweiler during his CUNA Chairmanship. Then I went on to Washington, where I served in the Office of Domestic Finance for the Treasury Department as director of public and legislative affairs.
I have been at Arizona Federal Credit Union for the last two years, which has re-engaged me with the frontline operations at one of the largest credit unions in the nation. I go to Oregon with a blend of knowledge of the operations of CUs and public policy for our industry’s future.
CUJ: What is your vision for the CUAO?
Stang: As with so many leagues across the nation, the No. 1 priority is advocacy. We must be proactive in both legislative and regulatory arenas, and on both state and federal levels.
The No. 2 priority is public affairs, media relations and messaging. We must be aware of the impact credit unions have on the community.
No. 3 is compliance and training. The nature of and the speed at which changes are happening in financial services have allowed credit unions to move ahead. Financial services are commoditized in so many marketplaces, therefore we must work hard to stay ahead of our competitors.
No. 4 is the development and delivery of innovative products and services, orchestrated by the league. We must focus on delivering value to CUs, with the purpose of having credit unions deliver value to their member/owners.
CUJ: What are your goals as CUAO president and CEO?
Stang: The timing of my ability to join the association is impeccable. In late summer, we will be doing our planning process, which gives me 60 days on the ground to visit credit unions all over the state. I want to spend time getting to know the credit unions and meet the leadership. I want to know the landscape as we move into the planning process. I am making a commitment to communication with credit unions, as well as the development of products and services.
CUJ: What do you see as the biggest challenges facing Oregon CUs?
Stang: The biggest challenge to the industry is membership growth. We must remain relevant to the consumer, and products and services help attract membership growth. If credit unions have the tools to enhance their value proposition to the membership, then they can grow.
The biggest challenge to the association is to define its strategic focus for the future. In a changing landscape, and as credit unions continue to grow, needs change. The association must find a way to support those needs, be it through regulatory efforts or other things.
Years ago, regulatory and advocacy efforts were not on the radar for most state leagues; leagues were focused on chartering credit unions, education and training. Today, that has inverted. Over my 15 years in the industry, the most fun experience I have had is association work from my time at the Texas league. I look forward to the opportunity to call Oregon home and I am delighted at the trust and confidence the board has placed in me.
