The NAFCU Journal May-June 2020 - 34

EXECUTIVE SPOTLIGHT

Michael Swalley
President/CEO
Dominion Energy Credit Union

Q: What led you to the credit union

sector and to Dominion Energy
Credit Union?

A: I first became involved with credit

unions as a CPA in Virginia Power's
internal audit department. At the
time, we did the opinion audit for the
company's $28 million credit union,
and I led the team for several years,
so when the credit union's manager
left - they were called managers back
then - I was approached about the job
and thought it was a great opportunity, so I took it! That was three name
changes and 30 years ago, and I feel
very blessed to have found my way to
credit unions.

Q: How do you lead an

engaged team? Describe your
leadership philosophy.

A: It starts by finding talented people.
Engage them in the mission early on,
and develop a team that's committed
to the organization's vision. In working
toward this common goal, give them
ownership of an area, discretion in
managing it and accountability for the
results. Their initiative and enthusiasm
will usually propel from there!
Q: What are some of the new

technologies and trends that you are
incorporating into Dominion Energy? 

A: A few of our core operational
strategies are to focus on digital

34

banking, our call center, and ATMs
in the workplace to serve members.
While these channels are certainly not
new, delivering excellence in them
requires continual enhancements
in both functionality and member experience.
To that end, one of the things we're
doing this year is to make it easier
for members to add travel notes and
receive notifications about their debit
and credit cards through digital banking. And in the call center, we are once
again modifying member verification
steps and offering computer-based
training for our representatives.
Continuing our commitment to ATMs
in the workplace, we just placed five
ATMs in new sponsor buildings
in South Carolina.

Q: What will a successful 2020 look
like to you and your team? 

A: As one of the few single-sponsor

credit unions remaining, to complement
our organic growth we are particularly
reliant on the employee growth of our
sponsor. Fortunately, with recent sponsor acquisitions, new fields of membership have opened up for us, and we are
working diligently to make the most of
these opportunities.
After a challenging 2019 that included
moving our operations center and

data center to new buildings, opening
a branch at Dominion Energy's new
headquarters building, and many staff
members in new roles when a third
of our leadership positions turned
over due to retirements, our focus has
pivoted to enhancing our core competencies and making sure we are doing
the basics well.

Q: What do you think is the most

pressing issue facing credit unions
today, and how are you meeting
that challenge? 

A: To me, remaining relevant in

the financial lives of our members
is the most pressing issue for credit
unions. By this I mean that when our
member needs a loan or some other
financial service, they most often
choose us, because if not, they've
found another source that is doing
it better than we do. If that happens
often enough, we are on our way to
becoming irrelevant and, over time,
will just melt away.
To avoid this outcome we try to
constantly compare our rates, convenience and member service with
other alternatives they have. We
have to look in the mirror and not
be afraid to see whatever is there,
then commit to working together
to get better - even if we're already
doing pretty well!
THE NAFCU JOURNAL  MAY-JUNE 2020



The NAFCU Journal May-June 2020

Table of Contents for the Digital Edition of The NAFCU Journal May-June 2020

The NAFCU Journal May-June 2020 - Cover1
The NAFCU Journal May-June 2020 - Cover2
The NAFCU Journal May-June 2020 - 1
The NAFCU Journal May-June 2020 - 2
The NAFCU Journal May-June 2020 - 3
The NAFCU Journal May-June 2020 - 4
The NAFCU Journal May-June 2020 - 5
The NAFCU Journal May-June 2020 - 6
The NAFCU Journal May-June 2020 - 7
The NAFCU Journal May-June 2020 - 8
The NAFCU Journal May-June 2020 - 9
The NAFCU Journal May-June 2020 - 10
The NAFCU Journal May-June 2020 - 11
The NAFCU Journal May-June 2020 - 12
The NAFCU Journal May-June 2020 - 13
The NAFCU Journal May-June 2020 - 14
The NAFCU Journal May-June 2020 - 15
The NAFCU Journal May-June 2020 - 16
The NAFCU Journal May-June 2020 - 17
The NAFCU Journal May-June 2020 - 18
The NAFCU Journal May-June 2020 - 19
The NAFCU Journal May-June 2020 - 20
The NAFCU Journal May-June 2020 - 21
The NAFCU Journal May-June 2020 - 22
The NAFCU Journal May-June 2020 - 23
The NAFCU Journal May-June 2020 - 24
The NAFCU Journal May-June 2020 - 25
The NAFCU Journal May-June 2020 - 26
The NAFCU Journal May-June 2020 - 27
The NAFCU Journal May-June 2020 - 28
The NAFCU Journal May-June 2020 - 29
The NAFCU Journal May-June 2020 - 30
The NAFCU Journal May-June 2020 - 31
The NAFCU Journal May-June 2020 - 32
The NAFCU Journal May-June 2020 - 33
The NAFCU Journal May-June 2020 - 34
The NAFCU Journal May-June 2020 - 35
The NAFCU Journal May-June 2020 - 36
The NAFCU Journal May-June 2020 - 37
The NAFCU Journal May-June 2020 - 38
The NAFCU Journal May-June 2020 - 39
The NAFCU Journal May-June 2020 - 40
The NAFCU Journal May-June 2020 - 41
The NAFCU Journal May-June 2020 - 42
The NAFCU Journal May-June 2020 - 43
The NAFCU Journal May-June 2020 - 44
The NAFCU Journal May-June 2020 - Cover3
The NAFCU Journal May-June 2020 - Cover4
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