VERNON HILLS. Ill.–One of the best-known CEOs in credit unions—Mike Valentine–has announced plans to retire in 2027, and he’s sharing advice, the lessons he’s learned, thoughts on the future and more in this CU Daily Exit Interview.
As the CU Daily reported here, Valentine said he will be exiting the $6.4-billion BCU in the middle of next year after a more than four-decade career in credit unions. During his career he has overseen growth from a single corporate sponsor, Baxter Healthcare, to becoming a “leading financial well-being benefit partner for America’s best workplaces, associations, and communities,” including Target Corporation, Cardinal Health, UnitedHealth Group, GEICO, HCA Healthcare, the American Dental Association, and many others.
Valentine has also received countless accolades, including the highest award in U.S. credit unions, the Herb Wegner Award for individual achievement.
“During his 42-year tenure, Valentine led BCU through sustained growth and transformation, strengthening financial performance while preserving the credit union’s member-owned mission,” BCU said in a statement. “He championed strategic partnerships, disciplined investment, and a people first culture that positioned BCU to deliver exceptional member and employee experiences.
Below, Valentine, shares his insights and more.
The CU Daily: How did you come to be involved in credit unions?
Valentine: When I was figuring out what career path was right for me, I knew I wanted to make a real difference in people’s lives. I started out as a branch manager for Household Finance in Waukegan and Rockford, Ill., which gave me a firsthand look at how consumer loans could truly improve someone’s financial well-being.
Then, in 1984, I joined Baxter Credit Union — now BCU — which was sponsored by Baxter Healthcare. Ten years later, I was honored to succeed Rex Johnson as president and CEO. Rex was the one who really sparked my passion for lending and for credit unions, and I owe a lot of my enthusiasm for this industry to him.
The CU Daily: What have you learned about managing people during your career, and has that evolved or changed?
Valentine: Being empathetic, and leading with heart is a sign of strength, and trust is earned, not given. I’ve always believed that if you take care of your employees first, they’ll take care of members — a happy employee makes for a happy member. Listening to understand really changes the way people relate to one another. And relationships are paramount. It sounds so simple, but it’s a skill that’s incredibly hard for most people to perfect.
What’s changed over time is how we connect. The pandemic and the shift to working remote were big adjustments for me. I’m a people person, so not interacting with people face-to-face every day was tough. But we’ve embraced a flexible, hybrid model that allows us to keep meeting members where they are. And while many of us work in this hybrid environment, our frontline team — those I refer to as our “Financial First Responders,” continue to show up in person every day, delivering the same caring, personal service that has always been the hallmark of differentiation at BCU.
The CU Daily: What have you learned about driving growth at a credit union during your career, and has that evolved or changed?
Valentine: It’s natural to have a desire to drive growth. But my view on growth has evolved over time. I see growth as an outcome. We should never grow for growth’s sake. Growth should be the result of sound execution of the strategy. It’s not just about adding members, it’s about engaging them — bringing in members who stay because they trust you and want to do business with you.
People do business with people they like. That’s been a north star for BCU. I care as much or more about engaging and keeping a member as I do adding a new member. You can have the best new member growth engine of anyone, but if those members attrite, your growth won’t be sustainable, and you won’t have succeeded in closing the execution gap of your strategy.
Over the years, we’ve adapted to meet members’ changing needs. We invested heavily in digital tools, new products that offer even more value to members, and virtual experiences when people were working and staying home. The digital experience remains a priority, but now we’re seeing the shift back to the in-person connections that BCU is known for as we continue to expand our community branch network. The priority now is finding the optimal mix of digital and human interactions, understanding member preferences, and not allowing AI to replace the most critical experiences that our members expect to receive from a human.
The CU Daily: What advice would you offer yourself if you could go back and talk to yourself on your first day as CEO, and share with others?
Valentine: If I could go back and offer myself some advice — or share it with anyone stepping into a CEO role — I’d say, don’t lose sight of the story. Everybody has a “why”: your employees, your members, your partners. Take time to understand your own “why,” and stay true to your organization’s purpose.
I’d also remind myself to relax; your title doesn’t mean you have to know everything. What matters most is building a team of passionate people who work well together. Surround yourself with people who care deeply about what they do. And don’t forget to connect with your peers. Be open, reach out, and create a network of other CEOs you can lean on. That support goes a long way.
The CU Daily: What lessons from Rex Johnson do you feel have stood the test of time and remain true?
Valentine: No one taught me more about credit unions than Rex. He truly embodied the people helping people spirit of this industry and reminded us to take what we do seriously but never take ourselves too seriously.
In a world of automation and AI, his advice still rings true: be a great listener, show empathy, do the right thing, and members will reward you with their loyalty.
The CU Daily: What is your view on the future of credit unions, if there is to be one?
Valentine: I couldn’t be more excited about the future. Credit unions are gaining traction, and I hope we continue to attract younger generations and clearly differentiate ourselves from banks. At the end of the day, credit unions are built on relationships, and that’s something people will always value.
And I can’t pass up an opportunity to talk about BCU’s future, specifically. Jim Block, BCU’s current EVP/COO, will step into the president role in July 2026 and become president/CEO when I retire in 2027. With 26 years of experience at BCU, Jim brings the heart and vision needed to guide the credit union toward an even brighter future.
The best is yet to come!
Below, Mike Valentine with Rex Johnson.
