A high-level shake up supports credit union success
A reorganization to the senior leadership team in 2019 has had a positive, powerful impact at TwinStar Credit Union.
In the past 10 years, TwinStar Credit Union($1.5B, Olympia, WA) has more than doubled in asset size. It also has added 55,000 members and crossed the state line into Oregon.
But as the credit union changed in ways both big and small, its senior leadership structure stayed the same.
“We basically had the same organization structure in place since we were half our size,” says Scott Daukas, the credit union’s chief strategy officer. “As we started to evaluate where the world was going and where the credit union needed to be, we realized our structure had holes in it.”
TwinStar first considered a reorganization in November 2018 and spent the next four months strategizing different concepts. The Evergreen State cooperative wanted to modernize its structure to create a nimbler decision-making process; however, it didn’t want a streamlined leadership structure to come at the cost of development opportunities.
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