During his final formal address at the CUNA GAC Annual General Meeting, Stang urged credit unions to continue sharing impactful member stories with lawmakers.
SeaTac, Washington, (March 2, 2021) — Troy Stang, President and CEO of the Northwest Credit Union Association, has concluded his term as Chair of the Credit Union National Association’s Board of Directors.
Stang was elected Chair in February 2020 and has served in various roles on the CUNA Board since 2013, including Vice Chair, Secretary, and Treasurer.
During his final formal address at the CUNA Governmental Affairs Conference Annual General Meeting March 2, Stang reflected on what has been an historic year for the Credit Union Movement, recognizing the tireless work credit unions did to meet members’ urgent and rapidly evolving financial needs. As Americans grappled with pandemic-related hardship, credit unions quickly adapted their services in response. They waived millions of dollars in fees, processed thousands of small-business loans, offered skip payments and modified loans, and contributed millions in charitable donations.
“It’s our structure that enables credit unions to place members’ needs first,” Stang said. “That structure motivates us to put people over profits. In 2020, credit unions across America demonstrated time and time again how to cooperatively generate and deliver real, tangible value to the members that they serve.” Stang emphasized the importance of sharing this impactful work with legislators, who can help remove the barriers and limitations that prevent credit unions from serving their communities.
“Credit unions were there for their members when global pandemic arrived at our doorstep,” Stang said. “As essential services, credit unions quickly and safely kept service flowing to members with technology, remote services, and safe, socially distant operations.”
As the financial services industry continues to innovate through the use of technology, Stang stressed credit unions must remain committed to digital adoption to continue to meet new and future member needs.
“We must strike the right balance between human connectivity and accelerating into this digital technology space,” he said. “The transformation curve is really going to be about reimagining how we bring people together through leveraging technology, data, and processes.”
Stang will continue to serve on the CUNA Board of Directors. His full outgoing address can be viewed online.