The NAFCU Journal September-October 2019 - 30

EXECUTIVE SPOTLIGHT

Timothy Anderson
President/CEO
United States Senate Federal Credit Union
Alexandria, Va.

Q: What led you to the credit union
sector and to United States Senate
Federal Credit Union?

A: I spent the first 20 years of my career

in the banking sector, but I always heard
a lot about credit unions and people helping people. That model really interested
me, so eventually I left banking and came
to the United States Senate Federal Credit
Union in 2000; I was the branch manager
of our flagship branch at the Hart Senate
Office Building in Washington, D.C.
When I left a year later, I joined the USSFCU board and continued to serve there
for almost 17 years. During that time I
was COO at two different credit unions,
and then for eight years I was CEO of
Government Printing Office Federal
Credit Union. In January 2019 I returned
to USSFCU as EVP and chief retail
officer as part of the succession plan
for our former CEO, who left in July.

Q: Can you describe your
leadership philosophy?

A: I've always been a transformational

leader; it's an intrinsic part of who I am.

Transformational leadership means
leading by example, leading by
empathy and involving people.
Embracing new ideas and being
adaptable. That's always been my
style - influencing folks to follow
30

a vision through inspiration, but
doing it with an understanding that
even though we're in a highly technological society, people are still our
main resource.

Q: USSFCU was the best-performing

credit union in 2018, according to
S&P Global Market Intelligence.
That's a huge jump from No. 44 in
2017. To what do you attribute that
level of growth and success? 

A: While I was on the USSFCU

board, we talked about our strategy
for growth. Initially we looked at
doing mergers with some of the
smaller credit unions in the area.
When that didn't come to fruition,
we pursued an organic growth
strategy that included the relationships
we already had with our lending
programs. We grew our loan portfolio,
which was an aggressive approach
for us, and then raised deposit rates
to give more back to our members.
At one point we were offering the
highest five-year CD rate in the
country, which resulted in a big
influx in deposits. The S&P Global
article focused primarily on our
asset, deposit and lending growth.
By the end of March 2019, we had
over $964 million in assets, an all-time
high. We're very proud of that, as we
continue toward $1 billion.

Q: What are some of the challenges
you see as potentially affecting
USSFCU's growth, and how do you
plan to address them?
A: We had 25 percent growth in 2017

and almost that much in 2018. In 2019
when I joined, we looked at slowing
down that growth a little and how best
to deploy some of that liquidity. We will
continue to grow our first mortgage program. We feel confident in our position
right now, on the brink of breaking $1
billion in assets, and we're going to let
that happen organically while we concentrate on our core Senate membership.

Q: In your new role as president

and CEO, what trends and
technologies do you plan to invest
in to support USSFCU's growth?

A: Strategically, we've got to make sure
we have the delivery channels available
to members outside the Washington,
D.C., metro area, so that when they
leave this area we still cultivate those
relationships and keep those members.
Locally, we have invested in strategically placed, interactive ATMs that can
do anything a teller can do, and we've
beefed up our online delivery channels.
We're also investing heavily in training,
so that our staff remains up to date on
all the new technology, resulting in an
overall better member experience.

THE NAFCU JOURNAL  SEPTEMBER-OCTOBER 2019



The NAFCU Journal September-October 2019

Table of Contents for the Digital Edition of The NAFCU Journal September-October 2019

The NAFCU Journal September-October 2019
Contents
Conferences
From the Chair
Washington and Industry Briefs
The Bottom Line
Access to Money
The Best Indirect Growth Strategy
Big Moments, Bigger Wallet Share
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
Industry Perspectives
From the President’s Desk
The NAFCU Journal September-October 2019 - The NAFCU Journal September-October 2019
The NAFCU Journal September-October 2019 - Cover2
The NAFCU Journal September-October 2019 - Contents
The NAFCU Journal September-October 2019 - 2
The NAFCU Journal September-October 2019 - Conferences
The NAFCU Journal September-October 2019 - From the Chair
The NAFCU Journal September-October 2019 - 5
The NAFCU Journal September-October 2019 - Washington and Industry Briefs
The NAFCU Journal September-October 2019 - 7
The NAFCU Journal September-October 2019 - The Bottom Line
The NAFCU Journal September-October 2019 - 9
The NAFCU Journal September-October 2019 - Access to Money
The NAFCU Journal September-October 2019 - 11
The NAFCU Journal September-October 2019 - 12
The NAFCU Journal September-October 2019 - 13
The NAFCU Journal September-October 2019 - 14
The NAFCU Journal September-October 2019 - 15
The NAFCU Journal September-October 2019 - The Best Indirect Growth Strategy
The NAFCU Journal September-October 2019 - 17
The NAFCU Journal September-October 2019 - 18
The NAFCU Journal September-October 2019 - 19
The NAFCU Journal September-October 2019 - 20
The NAFCU Journal September-October 2019 - 21
The NAFCU Journal September-October 2019 - 22
The NAFCU Journal September-October 2019 - 23
The NAFCU Journal September-October 2019 - Big Moments, Bigger Wallet Share
The NAFCU Journal September-October 2019 - 25
The NAFCU Journal September-October 2019 - 26
The NAFCU Journal September-October 2019 - 27
The NAFCU Journal September-October 2019 - 28
The NAFCU Journal September-October 2019 - 29
The NAFCU Journal September-October 2019 - Executive Spotlight
The NAFCU Journal September-October 2019 - 31
The NAFCU Journal September-October 2019 - Management Insight
The NAFCU Journal September-October 2019 - 33
The NAFCU Journal September-October 2019 - Compliance Central
The NAFCU Journal September-October 2019 - 35
The NAFCU Journal September-October 2019 - Inside NAFCU Services
The NAFCU Journal September-October 2019 - 37
The NAFCU Journal September-October 2019 - 38
The NAFCU Journal September-October 2019 - 39
The NAFCU Journal September-October 2019 - Industry Perspectives
The NAFCU Journal September-October 2019 - 41
The NAFCU Journal September-October 2019 - 42
The NAFCU Journal September-October 2019 - 43
The NAFCU Journal September-October 2019 - From the President’s Desk
The NAFCU Journal September-October 2019 - Cover3
The NAFCU Journal September-October 2019 - Cover4
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