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| Title: | DCU |
| Notice: | 1996 BoD Election results in 1004 |
| Moderator: | CPEEDY::BRADLEY |
|
| Created: | Sat Feb 07 1987 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1041 |
| Total number of notes: | 18759 |
930.0. "BoD Announce New CEO for DCU" by WLDBIL::KILGORE (Missed Woodstock -- *twice*!) Tue Apr 25 1995 12:43
From: US2RMC::"[email protected]" 25-APR-1995 01:09:29.70
To: rowlet::Ainsley, wldbil::Kilgore
CC:
Subj: DCU Announces New CEO
Bill & Bob,
Could you please post this as soon as possible.
Thanks,
Phil
-----------------------------------------------------------
DCU Members,
It is my extreme pleasure to announce that DCU's Board of Directors
has selected a new CEO. While our long and intensive search has taken
slightly longer than expected, the results were well worth the wait.
Our new CEO is Carlo Cestra, formerly of AT&T Employees Federal Credit
Union of Bedminster, New Jersey.
Under Carlo's leadership AT&T EFCU grew from $40 million to $378 million
with 54,443 members. The success of AT&T over the last 15 years was
achieved by providing innovative products and services with a strong
emphasis on the needs of the membership and financial soundness of the
credit union.
He's had great success encouraging members to use the credit union.
73% consider AT&T EFCU their primary financial institution, 74% have
checking, 70% have ATM cards, 67% have direct deposit of net pay, 67%
use audio response, and 56% have their Visa card. Members indicated
they are "very satisfied" with credit union products and services in
an October survey.
He established a centralized lending operation to expedite and improve
loan processing resulting in quicker service, greater efficiency, high
loan to share ratio (95%), low delinquency ratio (.28%) and low net
charge off ratio (.29%).
He built a service distribution network that included 16 full-service
branches, a national credit union shared branch network, a member
service center, 13 owned ATMs, and network ATM access to MAC, Honor,
and Cirrus.
He developed a credit union service organization (CUSO) that offered
members income tax preparation, accounting services, fee-based financial
planning, sale of annuities and mutual funds, and vehicle leasing.
He introduced a youth savings club which won first place credit union
marketing awards. He also introduced and expanded member education with
free seminars on financial planning, retirement, 401Ks, how to buy a home,
and more.
While these detail Carlo's accomplishments, they do not describe the approach
taken. Carlo was able to grow the AT&T EFCU (despite a downsizing sponsor)
in a low/no-fee environment. Carlo's emphasis has been on meeting and
exceeding members' product and service expections. Simply put, be the
best in the eyes of the membership and the membership will reward you with
their business.
Please join me in welcoming Carlo to DCU.
Regards,
Phil Gransewicz
Chairman of the Board
Digital Employees Federal Credit Union
----------------------------------------------------------------------
% ====== Internet headers and postmarks (see DECWRL::GATEWAY.DOC) ======
% Received: from mail1.digital.com by us2rmc.zko.dec.com (5.65/rmc-22feb94) id AA09119; Tue, 25 Apr 95 01:07:07 -040
% Received: from mail02.mail.aol.com by mail1.digital.com; (5.65 EXP 4/12/95 for V3.2/1.0/WV) id AA25317; Mon, 24 Apr 1995 22:06:22 -070
% Received: by mail02.mail.aol.com (1.37.109.11/16.2) id AA012046217; Tue, 25 Apr 1995 01:03:37 -040
% Date: Tue, 25 Apr 1995 01:03:37 -0400
% From: [email protected]
% Message-Id: <[email protected]>
% To: rowlet::Ainsley, wldbil::Kilgore
% Subject: DCU Announces New CEO
| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 930.1 | | MOLAR::DELBALSO | I (spade) my (dogface) | Wed Apr 26 1995 00:34 | 10 |
| Welcome aboard, Carlo!
Fasten your seatbelt!
Just kidding!
:^)
-Jack
|
| 930.2 | Sounds good so far | SCHOOL::KOPACKO | | Wed Apr 26 1995 11:23 | 4 |
| Sounds like good news... I look forward to hearing details and
specifics in the near future.
Ray
|
| 930.3 | | SUFRNG::REESE_K | tore down, I'm almost level with the ground | Wed Apr 26 1995 17:36 | 4 |
| This should be good news; if AT&T ran their credit union similar
to the Telco Credit Union this could be good news, indeed.
|
| 930.4 | a CEO with a true credit union philosophy | WWF::LONG | | Thu Apr 27 1995 01:17 | 12 |
|
From Phil's description, Carlo clearly understands, appreciates, and
thoroughly believes in the "true credit union philosophy". Chuck Cockburn
may have been a very good manager (don't forget, the DCU he left behind
was much healthier than the DCU he came to work for), but he certainly seems
to have had a *very* different vision for DCU than most of the members that
I've talked to about this.
From what I can see, Carlo is the right man at the right time for this job.
Our board appears to have come through for us once again.
|
| 930.5 | good news! | WRKSYS::SEILER | Larry Seiler | Thu Apr 27 1995 14:13 | 7 |
| Wow! I sure wish I'd come back from vacation in time to attend
last Monday's Board meeting! My congratulations to the Board for
attracting such a good candidate, and my congratulations to Carlo
for winning a job that has so much potential. A lot of the things
that he did at AT&T sound like *great* ideas to pursue at the DCU!
Larry Seiler
|