Solano credit union CEO: Customers put their ‘money with a place that aligns with their values’ (2024)

Even though people have any number of choices when it comes to where to park their hard earned cash, credit unions aren’t going anywhere — at least that’s true of Solano County-based Travis Credit Union.

CEO Kevin Miller believes there will always be a need and desire for physical financial institutions as long as they are nimble as possible to accommodate consumers’ changing desires.

“Our focus is closing all gaps so what we offer looks like what the large banks do, except we have a local face here,” Miller said.

With people able to move money with a few clicks on their phone through apps such as PayPal, Venmo and Zelle, it has eliminated the need to write checks, go to an ATM or interact with a bank teller.

Miller isn’t threatened by any of that.

“Given the unique relationship consumers/members have with their money, we always expect TCU to have branches to serve our members and communities. The role the branch plays in that experience will continue to change over time,” the 46-year-old executive said.

He also believes people today, especially younger generations, are more conscientious about putting their “money with a place that aligns with their values.” This, Miller said, is where credit unions can make a strong argument for being the financial institution of choice.

The following is a Q&A with Miller that has been edited for clarity and space.

The credit union was founded in 1951 by military and civilian workers at Travis Air Force Base. What role does the military have in the credit union today?

KEVIN MILLER: While our membership base has expanded since then — to anyone who lives, works, or worships in any of the 12 counties we serve — we are proud to offer our products and services to the men and women at Travis Air Force Base.

We have a branch on base that provides in-person service to our members and we offer tailored financial products to meet the ever-changing and transitory nature of military service. TCU has a long standing commitment to provide education and improve active duty and retired military members’ financial literacy. Our organization provides military-focused financial seminars that are delivered in-person and virtually.

How does fintech impact Travis Credit Union?

MILLER: Fintechs can be both a partner and competitor depending on the situation. TCU partners with several fintechs to offer our members leading products, experiences and services.

How are credit card, auto and mortgage delinquencies affecting Travis Credit Union?

MILLER: Overall the industry has seen increases in delinquencies, some just normalizing to trends/rates that were common pre-pandemic. TCU is very well capitalized; we continue to be focused on serving our members.

What is the purpose of the Travis Credit Union Foundation, launched in 2017?

MILLER: The Travis Credit Union Foundation is committed to building financially empowered communities. As the philanthropic arm of the Travis Credit Union, TCUF was created to amplify our impact on the community beyond what the credit union could do alone.

Last year, TCUF received $439,539 in donations and grants for its work in financial advocacy and we distributed $20,750 to local nonprofit organizations in support of financial wellness initiatives in Northern California.

What about your business keeps you up at night?

MILLER: The needs of our members, team members and communities is ever changing. So for me, it’s all about staying relevant and delivering value.

How will artificial intelligence help or hurt your business?

MILLER: While still many unknowns, I believe it will help us do more, including streamlining our processes and driving more value for our members.

Other than money how do you measure success?

MILLER: There are many ways, some more quantitative than other, e.g. Net Promoter Score (feedback from members), team member engagement, did we deliver a new product, service, experience on time with the expected outcomes.

What concerns and goals do you have for your business and industry for the next five years?

MILLER: The way consumers/members think and interact with their money is going through a massive evolution. The number of traditional and nontraditional providers to offer financial-like services is expanding by the day. This requires a clear focus, clear understanding of the compelling value you provide and rigor on the ability to execute and quickly learn to drive improvement.

How do you handle negative feedback?

MILLER: Early in my career, it was definitely something I struggled with. Over time, I learned that getting feedback is what makes us better and that we all have an opportunity to learn from our mistakes. Our rule at TCU during our companywide town halls is that you can ask any question, just ask it in a professional and respectful manner. My view is that if you can’t take an uncomfortable question, then we are sending a message of “saying one thing and doing another.”

What one government regulation would you change and why?

MILLER: Not sure we have enough time for this question. Regulation exists for a reason to protect our members and communities and we support that. For me, it is often the untended consequences of regulation that either impact our ability to serve members or cause us to divert attention to more pressing items.

What are the benefits and drawbacks to being located in the North Bay?

MILLER: The North Bay is a vibrant, diverse, and beautiful community. I believe the thing on most people’s mind is quality of life: Can I afford to live and work in my community? Will my kids’ future be better than mine?

What was your first job? What was your first career job?

MILLER: I volunteered in community theater in middle school; that turned into a part-time job that I worked all the way through college. I learned so much. Some days I would be unloading semitrucks, other days designing lights for a show and then another talking to the public.

My first corporate job was in marketing. I really enjoyed the analytic side of the role, understanding strategy, and from there I took on new roles and challenges.

What is the most adventurous thing you have ever done?

MILLER: A group of friends created a “dare to do” bucket list and over two summers we checked them all off, including sky diving. That was a lot of fun!

What advice would you give someone just starting his or her career in your industry?

MILLER: Most people don’t know exactly what they want to be when they grow up and that’s OK. Pick something to start with, learn from us, your path will be different from those around you, there are no straight lines up, careers are a mix of hard work and good luck.

Kathryn Reed is a journalist who has spent most of her career covering issues in Northern California. She has published four books, with the most recent being Sleeping with Strangers: An Airbnb Host’s Life in Lake Tahoe and Mexico. She may be reached at kr@kathrynreed. com, or follower her at kathrynreed.com, Twitter @Kathryn0925, or Instagram @kathrynreed0925.