Many groups deserve to be thanked for the turnaround of the municipal credit union


New York, headquarters of the Municipal Credit Union. Source: Shutterstock

Dear Editor:

As for Peter Strozniak’s March 7 article, “A New Beginning for MCU with a New Board, Leadership Team, and Oversight Committee,” all of us at Municipal Credit Union appreciate the coverage. While I’m the only MCU person named in this article — and I’ve received many congratulatory calls, messages, and texts — the MCU’s remarkable turnaround is in no way due to me. I want to openly acknowledge the dedication, teamwork and support of those who helped return Municipal Credit Union to its rightful owners:

Members

Members are the lifeblood of a credit union. At MCU, we are privileged to serve the everyday heroes who serve the greatest city in the world. They have been the North Star in all our decisions and actions, as we have continually asked ourselves: how do we build a solid foundation for the organization to quickly return property to its members?

Volunteers

Our Board of Directors and Oversight Committee are dedicated to the governance and financial stewards of the organization. All of our volunteers have a strong personal connection to the Municipal Credit Union and are committed to ensuring that the organization is strong and vibrant for current and future generations of members.

A team

We refer to all 500 employees of Municipal Credit Union as A team – a team whose passion, commitment and perseverance have restored our operational and financial foundations. I have a special place in my heart for all employees who started at MCU before May 19, 2019, when it was retained: You weathered the storm and believed we could get back on our way to becoming one. leading financial institution.

Previous leaders and consultants

We couldn’t have gotten here without these executives and consultants who were part of the leadership and supervisory leadership teams, especially Kay Woods and Jane Dobbs who served as interim CEOs; Jennifer Oliver, who was our Chief Financial Officer while we built the integrity of our financial statements (you’ll be an amazing CEO for SCE Federal Credit Union!); and Tiffany Chisnall and Lisa Hay, who rebuilt our sales and operations teams.

Regulators

Perhaps most people wouldn’t think to thank regulators after being involved in a conservatorship, but I’m here to say that our partnership with the New York State Department of Financial Services and the NCUA has been absolutely essential to our success and liberation. They, too, believed in the North Star of members and supported our efforts to provide safe and solid value during tutelage.

Partners and Suppliers

Many partners and suppliers stepped in during the conservatorship with offers of help and support. Special thanks to Symitar, PSCU, VISA DPS, Darling Consulting Group, McQueen Financial Advisors, Sameha and Associates, Susan Savage, Eril Blackwood, CU Engage, Best Innovation Group, Alkami, Filene Research Institute, the New York Credit Union Association and many more.

Industry

I am a firm believer in the industry and the credit union movement. Our common bond is really people helping others. We could feel the industry cheering us on and hoping for our success. If there is a struggling credit union that can learn from our experience, know that you have supporters in the industry. We will all help you in any way we can.

I am very touched by the outpouring of good wishes, and it is an honor to be part of the leadership team of the largest credit union to ever leave trusteeship and return ownership to its members.

Sincerely,

Kyle Markland Kyle Markland

Kyle Markland

Proud CEO

Municipal credit union

New York, NY

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