Episode 6: Why banks choose credit unions

Five Star Credit Union President/CEO Bob Steensma discusses how his credit union has purchased banks over the years and his takeaways from the acquisitions. Bob also touches on the market forces at play, system conversions, and the importance of community-centered financial services.

In this episode 

Anthony Demangone, Chief Membership and Engagement Officer, America's Credit Unions 

Bob Steensma, President/CEO, Five Star Credit Union

Resources

• Why community banks increasingly choose credit unions as buyers
• Banks selling to credit unions is worthwhile collaboration
• Register for the Strategic Growth Conference and Congressional Caucus
• Stay up to date on the latest news affecting credit unions

Guest Bio

Bob Steensma has served as President/CEO of Five Star Credit Union since June 2007, leading the organization through a period of transformational growth and strategic expansion. Under his leadership, Five Star has grown from 7 branches and $140 million in assets to 29 branches and more than $1.2 billion in assets, establishing itself as a leading financial institution in the region.

Bob has successfully guided the credit union through four bank acquisitions, ranging in size from $16 million to $180 million in assets, significantly broadening Five Star’s market presence and service capabilities. Headquartered in Dothan, Alabama, Five Star now proudly serves over 68,000 members across 42 counties throughout southeast Alabama and South Georgia.