Former CO-OP President/CEO Stan Hollen will be honored by The National Credit Union Foundation with the prestigious 2017 Herb Wegner Memorial Award for Outstanding Individual Achievement, the Foundation announced last week.
The award will be presented at a special dinner hosted by the Foundation at the Marriott Marquis on February 27, 2017, in conjunction with the Credit Union National Association (CUNA) Governmental Affairs Conference (GAC) in Washington, D.C.
Hollen’s imprint on the credit union industry is deep and his contributions are many. For 45 years, beginning when he was elected to a credit union board of directors at age 19, Hollen crafted a career in financial services on the state and national levels. He focused his management expertise and energy on developing innovative services that give credit unions an opportunity to compete effectively among financial institutions.
During his 11 years as President/CEO of CO-OP, Hollen was a trailblazer in the industry and a catalyst for partnerships that have changed the face of the movement. This includes creating CO-OP Miracle Match in 2008, which contributes $1 million annually in matching funds to Credit Unions for Kids fundraisers benefiting Children’s Miracle Network Hospitals.
Born in Danville, Illinois, Stan attended Eastern Illinois University in Charleston, where he earned his Bachelor’s and Master’s degrees in business administration. With his degrees in hand, coupled with his board service, he was drawn to the credit union way of business and spent his first 10-plus years as Vice President of CEFCU (1973-1984) in Peoria, Illinois. During this time, he led the creation of an ATM network in Central Illinois.
He also became a CPA during these years, spending two years with Deloitte Haskins and Sells (now Deloitte) in Chicago, focusing on financial institution practices. He helped write the first AICPA Credit Union Accounting and Audit Guide.
Hollen then moved west as President/CEO of The Golden 1 Credit Union based in Sacramento, California. During his tenure (1984-2002), the credit union grew from $295 million in assets and nine branches to $4 billion in assets and 65 branches. By the time Hollen left The Golden 1, the credit union ranked first in California and fifth nationally. In addition, 13 members of his management team went on to become credit union CEOs around the country.
After being appointed as CO-OP Network’s President/CEO in June 2005, among his early decisions was to change the company’s name to CO-OP Financial Services (in 2006) to reflect its wider scope of diversified services for its growing credit union clientele. Under Hollen’s leadership, CO-OP grew to provide financial, marketing and technology services to more than half of all credit unions in the U.S. CO-OP has also received consistently high performance marks from its credit union clients for customer service, with a satisfaction rating of 8.7 (out of 10.0) for January-June 2016.
He retired from CO-OP on July 1, 2016.
Hollen will be joined by two other honorees this year: Maria Martinez, President/CEO of Border Federal Credit Union, also for Outstanding Individual Achievement and The Cooperative Trust from the Filene Research Institute for Outstanding Program. Registration for dinner sponsorships and tickets will be available on the Foundation website (ncuf.coop) later this month.