WINSTON-SALEM - It's hard to find people who are more influential in the credit union industry than Marcus B. Schaefer, president/CEO of Truliant Federal Credit Union.
Schaefer's actions have affected many people locally, regionally, nationally and throughout the world.
heads Truliant Federal Credit Union
, which serves over 500 companies and has over 22 branches in five states.He also has had a long history of being active on boards and committees that shape how credit unions operate in this country and throughout the world.
In that capacity, he
is close to many lawmakers at all levels who are concerned with financial regulation.
"Working for a credit union is very rewarding because you feel like you're constantly doing things that help, not only your members, but also people in general," Schaefer
Helping others is definitely something Schaefer
likes to do.
...Name: Marcus B. "Marc" Schaefer
...Upon graduation, Schaefer went to work for the Organization of American States, where he developed an international internship program for Latin American students that is still operating today.After completing that, he moved on to the Washington Center for Learning Alternatives and developed a couple of more internship programs that also still operate.
During this period his
interests shifted from diplomacy to finance.
"I had a number of friends who went into the diplomatic service.From them I learned that your early assignments are largely clerical and can be pretty boring," Schaefer
said. He then attended American Graduate School of International Management, an exclusive school out of Phoenix, Ariz., better known as Thunderbird and considered a school for future financial leaders.
"In graduate school we did a lot of interesting work relative from a corporate standpoint on issues, such as managing businesses that have offices in multiple countries," he
said."Issues like income tax and those types of things turned out to be more fascinating to me then strictly diplomacy services." After earning his masters at Thunderbird, Schaefer returned to Washington to find a job in the banking industry.
When an opening became available as special assistant to the president of the U.S. Postal Service Credit Union
took it even though he
was overqualified.This move, however, set the tone for the rest of his
professional life because it got him in the credit union business, one which has matched his
ambition and passion well.
"I liked the idea of working for the members rather than the stockholders," he
By nature, credit unions, unlike banks are owned by their members – those who save and borrow from it – rather than investors who own the company to make money.That concept has proven to be an excellent working environment for Schaefer
.He quickly moved up to comptroller of that large institution before becoming CEO of the Federal Deposit Insurance Corporation's credit union.
"It was one of the most delightful jobs I could imagine.My board of directors were high-level FDIC officials.I had folks on my board who were accounting specialists for the entire banking industry." Schaefer
proved that he
could hold his
own with people in high places and earned respect throughout industry.Truliant
, formerly known as AT&T Family Federal Credit Union
, recruited him, in and in 1995 he
went to work for the Winston-Salem company.
The former Alexandria, Va., resident likes it here in the Twin City."I think Winston-Salem is a fantastic town," Schaefer
said."The pace of life here is much slower than it is in Washington, but your personal life can be just as exciting – if not more so.It's nice to live in a neighborhood with mature trees and drive to work in four minutes without having to worry about parking issues."
The issues Schaefer concerns himself with involve the good of Truliant members and others for that matter.Truliant
itself has more than doubled in size since he
took over the chief executive position seven years ago.
In addition to regulatory and other problems credit unions face, Schaefer
has helped Truliant members to take advantage of the latest in technological breakthroughs.He
was, once again, at the forefront in Truliant's innovative use of video kiosks, touch-screen kiosks, electronic statements and other advancements that enable members to get better use of their credit union. He
has also worked to get technological advances in this area put to use in Suriname and other countries to improve the world standard of living.
Email to a Friend Print Friendly Version Add a comment
Copyright ©1995-2002 Triad Business News
- All rights reserved.