Helping Neighbors and the Community Grow

November 29, 2022

In today's episode of the "The Runway Decade Podcast," hosts Bill Bush and Pete Bush, advisors at Horizon Financial Group are talking with Steve Webb, Chief Executive Officer at Neighbors Federal Credit Union.

Episode Highlights
  • 06.00: Steve talks about the growth of Neighbors Federal Credit Union. How he has watched its growth from $68 million to $1.3 billion.
  • 07.13: Steve talks about the acquisition game that they got into. It's about a decade ago they did one acquisition. But most of their growth was organic and acquisition was about $45 million.
  • 11.03: Steve explains how their entire model of business is based on taking appropriate risk and receiving a reward.
  • 12.09: You have to really enjoy where you are spending your time. You have got to enjoy the people you are working with every day, says Steve.
  • 12.52: Bill, Pete and Steve discuss the importance of work life balance and how important it is to maintain it.
  • 14.07: Pete shares he has two grandkids now and how they change his perspective about things, about the future and about life and everything else.
  • 17.02: As per Steve, goal of any parents is to produce productive members of the society.
  • 18.00: Bill says that they have this thing called the runway decade and it's about life in your 50s.
  • 18.27: 50 was an interesting year for Steve, because it was when he was promoted to CEO of the organization.
  • 19.05: 50 makes you think of your mortality and that life doesn’t go on for forever, says Steve.
  • 21.40: Steve always tells people all the time that mobility is a quality-of-life equation to be if you can't walk or move or do things, it really impacts you.
  • 24.40: When you start talking about retirement and you think you got a few years to plan, you better start planning today because every day you wait, that time is going by.
  • 25.20: Steve has talked to a few folks about what is that next step as well. It's going to be a few weeks or months of just chilling, but after that you can't stay on the sidelines forever.
  • 30.01: Steve says that they do a lot of Community efforts. They have high school checking account programs where they actually donate money back to schools. They have tuition and grant programs where they assist students with furthering their education.
  • 31.00: One of Steve’s mantras here is they talk about financial confidence and financial confident people make the world better because the lack of money or the lack of understanding about financial stuff does the opposite.

Three Key Points
  1. Bill, Pete and Steve talk about their work and family and how they balance work and life.
  2. Steve talks about life at 50 and how his mindset has changed in a good way for healthcare.
  3. Steve shares what retirement means to him. For Steve retirement is an opportunity to do some things that you really don't get the opportunity to do today.

Tweetable Quotes
  • “There have been things that... obviously, initiatives that we have taken on that necessarily weren't successful and, sometimes you've got to realize that and you've got to be willing to say, hey, it was not a bad idea, might have been a bad implementation, but at this point in time the bad decision is to continue pushing through for something that's obviously not working.” – Steve
  • “I don't care how hard you work and how many hours you put in a day. At the end of the day, if you're just burning yourself out, you're not really helping anybody.” - Steve
  • “I tell people all the time outside of where ...I work inside all day long, Monday through Friday and typically in the office. So anytime I can get outdoors, I'm outdoors.” - Steve
  • “You've got to get back and engage in something and you just have to have the willpower and the strength to not let yourself get roped into turn into a 60 hour gig every week again.” - Steve
  • “Everybody's got their thing that they look forward to and we don't have, I don't golf or hunt or fish or do all those things, although I would go to enjoy time with someone. But our big thing is travel.” - Pete
  • “Just recently we created another grant program called Projects in public schools where I think this year, we gave away $100,000 for just small public-school grants. Some of them are 1500 dollars 700, some of them are a few $1000, but there's an application process at the schools go through and we just started a reward and for some of those little extra things that the budget typically doesn't allow for.” – Steve
  • “What we are doing today will continue to grow. So the impact will be greater rate two years from now, 10 years from now and so forth.” - Steve

Resources Mentioned

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