BRIDGETON, Mo.-Amid the complexities of a financial institution, Hubert Hoosman, Jr., has held to a simple philosophy that has helped his CU succeed and grow in his 31 years with the organization.
As CEO of the $700-milion Vantage CU today-which has grown from $34 million in assets when Hoosman came on board as a teller in 1982-Hoosman stuck with what he learned the first day on the job, no matter his role.
"I was trained by Mary Redfern, a staff trainer, who instilled in me that if you take care of the member, the member will take care of the credit union. Put members first. She also stressed the credit union motto-not for profit, not for charity, but for service."
Hoosman shared how that thinking is reflected in a strong principle held by Vantage. "We have never strived to be a CAMEL 1 credit union, because we think that conflicts with some of the projects, processes, and improvement of the credit union that were in the best interests of our members. We always wanted to be a healthy Camel 2."
In recognition of his leadership at Vantage, the roles in various organizations and commitment to the credit union philosophy, the National Credit Union Foundation has named Hoosman the winner of the 2013 Herb Wegner Memorial Award for Individual Achievement.
"Hubert Hoosman's dedication to moving the credit union world forward is also visible in all of the local, regional, national and international endeavors in which he has been involved," said NCUF Awards and Recognition Committee Chairman Bob Schumacher. "He is truly a renaissance credit union leader and deserving of the award."
Starting On The Front Lines
Over the past 31 years, Hoosman has held several management positions while ascending within the credit union, including loan department manager, branch manager, VP of operations and EVP before taking over as CEO in 1994. Hoosman said he would not trade the career path for any other.
"Starting on the front line gives you a true understanding of the value the credit union movement brings to members. You get an appreciation for the members and for the effort it takes to run a successful credit union. The member contact people are the most important people representing the credit union. They have to buy into the people helping people credit union philosophy and to what their true mission is."
With a multi-state charter, Hoosman is proud of the community outreach efforts of Vantage that have made a difference in the lives of many, especially youth. "I am very proud of what the credit union has accomplished in our cities and towns. I believe it is the credit union's responsibility to get closely involved in its communities with support and outreach programs. Education has been one of our staples-we have a scholarship program that has grown from ten annually to 25, and we have been involved in student classroom financial literacy programs for 30 years."
From an outreach perspective, what Hoosman is most proud of is the CU's work in the underserved area of East St. Louis, Ill. About ten years ago, Vantage took over a failing credit union that Hoosman hoped Vantage could keep alive to serve so many low-income people who desperately needed a trusted financial partner. Behind financial education and providing affordable financial services, Vantage helped many in the community beat back poverty to succeed in life.
"East St. Louis is my hometown and is a city that gets a lot of grief in the media, but a lot of wonderful people live there," said Hoosman. "To take on a project we knew would be tough, to have a lot of people watching you under a microscope and to be successful-it doesn't get any better than that professionally."
The East St. Louis office is one of 16 overall within Vantage and is consistently ranked No. 5 in monthly performance reports. Hoosman added that banks in the area that had been charging extremely high rates and adding fees have had to come down on both to compete with Vantage.
Raising Funds For Memorial
Among many accomplishments, what also stands out to Hoosman is the support credit unions showed for the creation of the Dr. Martin Luther King, Jr., national monument in Washington, D.C. in 2006. "When the credit union movement got behind the Dr. King memorial, that was icing on the cake for me."
Hoosman took the lead nationally with credit unions in helping recognize Dr. King by raising funds for the monument. Vantage donated the first $50,000 and Hoosman organized support. In conjunction with the African-American Credit Union Coalition (AACUC), Hoosman gained support from 134 credit unions, 13 leagues, three corporate CUs, industry trade associations, and six CUSOs.
Contributions Across the World
Hoosman has also held numerous roles outside Vantage: an original founder and board treasurer for the AACUC, chairman of the Missouri Credit Union Association from 2004 through 2006, participated in the Consumer Federation of America, a member of the World Leadership Committee for the World Council of Credit Unions (WOCCU), a member of the Filene Research Institute advisory committee and a member of the capitalization committee for the National Federation of Community Development Credit Unions. Hoosman served on the board of the National Credit Union Foundation and also worked with WOCCU in the Caribbean, Kenya, Australia, Rwanda, Gambia and Swaziland.
But there is still a lot of work to be done here at home, insisted Hoosman.
"Credit unions are very bright, but unfortunately many of us were too conservative from 2008 through 2012 in tooting our horns about the value we bring to the communities and the country. The opportunity has never been better to bring the value of credit unions to the nation, and to help people understand what credit unions are and are about. It's time we get really moving on that, and to get back to the basics of lending and do our jobs."
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