Scott Johnson, a prime official at a credit score union in Los Angeles County, has been chosen as the brand new chief govt officer of Group First Credit score Union.
Johnson, 54, most lately served as chief income officer and chief technique officer at Unify Monetary Credit score Union in Torrance. He’ll exchange Todd Sheffield, who will step down June 30 after main the 60,000-member cooperative primarily based in Santa Rosa for nearly 20 years.
“We selected Scott, a former chief info officer, for his utilized data of expertise, and likewise due to his stable match with our company tradition and the native communities we serve,” stated Carolyn Welch, chair of the credit score union’s board of administrators, in an announcement.
In an interview, Johnson stated he appreciated how Sheffield established a powerful base below his tenure for the nonprofit establishment, particularly after it merged virtually 4 years in the past with Mendo Lake Credit score Union. Beneath Sheffield’s management, Group First elevated its property from $91 million in 2001 to its present $664 million.
“I’m simply seeking to are available in and work with the nice workforce there and proceed to strengthen the relationships that we now have with our members in these communities,” Johnson stated. He added that he desires to be an advocate for the sector in explaining the advantages of membership, particularly for many who at the moment wouldn’t have relationships with a financial institution or credit score union.
Group First Credit score Union additionally has 11 branches throughout the North Coast in some rural areas that large banks have left. “I believe a credit score union is uniquely positioned to have the ability to make inroads in these markets … particularly with the underserved,” Johnson stated. Earlier than serving within the credit score union sector, Johnson was chief expertise officer of Pacific Life Insurance coverage’s Company Division.
“It’s bought to start out with a basis of belief that the establishment is definitely there for his or her financial well-being and never the opposite method round. I’m undecided that the massive banks are perceived that method,” he added.
Johnson stated one space to discover sooner or later is house mortgages, particularly with patrons making an attempt to safe a down fee within the Bay Space area with excessive housing prices. He famous there are some financial-tech suppliers which can be creating merchandise to make it simpler for first-time homebuyers and he would discover such partnerships to see if it will be possible for Group First. “We would definitely wish to take a look at these transferring ahead,” he stated.
Group First additionally lately began its “420 accounts” that serve hashish enterprise purchasers with banking companies.
You may attain Workers Author Invoice Swindell at 707-521-5233 or firstname.lastname@example.org. On Twitter @BillSwindell.