Navigating history: How one credit union CEO found support after a baptism of fire
April Tompkins has the quintessential credit union leadership story. Like so many leaders in the system, Tompkins started off as a teller, fell in love with the people and the mission, and worked her way up to CEO. Unlike many others, however, Tompkins was barely in her 30s when she took the top job.
“I never really had a plan to work in credit unions,” she says, “but the system found me. I started off part-time and whenever there was an opportunity to grow professionally and get more involved, I took it.”
Just short of a decade after joining the credit union, Tompkins was appointed CEO. That same month, the credit union’s Field of Membership expansion was approved, almost doubling its potential membership to 550,000.
“Just about my first task as CEO was to help reimagine how our credit union positioned itself in the community,” Tomkins explains. “Our FOM expansion meant new markets, new members, and new opportunities to improve financial lives. We wanted to build a brand that represented our ambition for progress and community impact, while also celebrating our legacy and heritage.”
That vision manifested itself as Explorers Credit Union—a new identity for the credit union, ready to be unveiled … in March 2020.
Unprecedented onboarding
Tompkins’ onboarding as CEO could certainly have been easier: She’d been in her role less than a year when the pandemic hit.
“The grand unveiling of our new brand was tied to the opening of a new branch—right as the pandemic hit. It was heartbreaking to put all that energy into something we’d built to strengthen our community, and we couldn’t share it or celebrate it with them.”
While Tompkins acknowledges navigating Covid was challenging, she did successfully grow membership some 10 percent and shares/deposits more than 40 percent throughout it—but at some cost to her, personally.
“The pandemic was difficult,” she adds. “Everyone was, understandably, looking to me for direction, but I was going through the same experience. It took more of me than I’d thought to lead the credit union through it.”
No return to normal
Of course, just like every other credit union leader, as soon as the dust settled on the post-pandemic era, Tompkins began navigating an historic federal rate cycle and high cost of funds.
“There really wasn’t much of a ‘Return to normal’ before the liquidity challenges of the last two years took their toll,” Tompkins says.
She admits that despite fundamentally knowing she was guiding a credit union through truly unprecedented times, there was a sense of shortcoming.
“I knew the economic circumstances were atypical, that this was challenging for every credit union of any size, but another part of me thought, ‘This is something you should know. You’re the CEO.’ That wears you down.”
Eventually, Tompkins sought out CUWLA—the Credit Union Women’s Leadership Alliance—and soon her personal and professional experiences were improving.
Shared experiences
“I’d been aware of CUWLA for some time but wasn’t sure if it was for me,” Tompkins adds. “When you’re running a small credit union, it’s not just financial investments you have to be extra cautious about, it’s your time investments, too. We don’t have a huge staff, so every meeting, every engagement I attend, it has to be truly beneficial.”
In 2023, she’d had enough people urging her to connect with CUWLA that she took a chance and joined.
“There was something special about CUWLA straight away,” she says. “I felt immediately comfortable. It’s a community of like-minded people I can share with and learn from. It’s really an incredible resource.”
One of Tompkins’ first ah-has was that she wasn’t alone. Many of the challenges she felt were unique to her—as the CEO of a smaller credit union, as a female executive, as a working mother—were shared. And perhaps more importantly; were on the table for discussion.
“Being the CEO is like parenthood. It’s exciting and terrifying in equal measure. You never really feel fully prepared, but you have to trust in your own abilities and commit to learning what you don’t know—but you quickly realize, you know a lot less than you probably should. Becoming a member of CUWLA gave me access to all the people who have gone through it before; lived through it, and built the knowledge and wisdom to help guide me.
“I love how much CUWLA members are willing to share. The organization really does provide a safe space. It’s unique to finding a professional network that is as focused on its members’ personal development and well-being as it is on the professional, organizational side of things. To me, that’s made CUWLA an invaluable resource.”
Community benefits
Tompkins says that the community she’s found through CUWLA and discovering fellow female CEOs facing similar situations, with the knowledge and guidance to help her, has had a tangible influence on her role as CEO at Explorers Credit Union.
“Personal and professional development is a passion of mine. It always has been,” Tompkins says. “I’m committed to continuous improvement for myself, for my team, for my credit union and being able to learn from the people around me, the ones who have been in these positions for a long time, it’s honestly worth more than gold.
“Being surrounded by people I can learn and grow with through CUWLA has energized me. Knowing that we’re in this together makes me feel more passion for the work I do and the community I serve at Explorers.”
