CU Times Correspondent-at-Large
SAN BERNARDINO, Calif. -- California State University, San Bernardino, will honor Arrowhead Credit Union CEO Larry Sharp on June 15 with an honorary doctorate degree from the College of Business and Public Administration, where he delivered the keynote graduation address in 2004.
The laurel recognizes Sharp's contributions to the university and San Bernardino community as leader of Arrowhead Credit Union for the past 25 years. In addition to his active volunteer roles in the community, Sharp has grown Arrowhead from $58 million in 1982 to a $1 billion institution today.
"I'm really pleased. It was a surprise to me and I'm very flattered," Sharp said.
Al Karnig, CSUSB president, said Sharp was chosen from the list of nominees due to the wide variety of contributions he's made to the university and community.
"He probably serves in more roles in the community than anyone can imagine--titles like president, director and chair--and in incredible array of community organizations and councils," Karnig said. "I've known him since I became president in 1987, and he's been a very strong supporter of higher education and the university."
In addition to his involvement on the college of business advisory board, Karnig said Sharp was also one of the university's first graduates of its executive MBA program, receiving a finance degree in the late 1990s.
The community booster has also been active on the economic development scene, speaking May 29 at a Rotary-sponsored summit that addressed San Bernardino's desire to return to its All-America City status of the 1970s.
Sharp has been an active in San Bernardino economic development efforts for years, have served on a number of boards and committees. Last year, he was chairman of the Inland Empire Economic Partnership.
Real estate slumps are an opportunity for municipalities and developers to restore run down neighborhoods, Sharp said.
"Prices will be depressed because folks are willing to sell, and they'll sell for cheaper today because prices have gone down," Sharp said. "So, my message to the city at the summit was 'hey guys, now is the time to make the transition if you're going to do it'."
Arrowhead is putting money behind Sharp's speeches, with plans to break ground on two 95,000 square foot office buildings in one of San Bernardino's worst neighborhoods in January 2009. The office complex will be located to the south of Arrowhead Credit Union Park, a minor league stadium in San Bernardino in which the credit union has been title sponsor since 2002.
Though San Bernardino officials encouraged the credit union to build its new back office facility in the city's downtown area, Sharp instead chose the Interstate 215 corridor, which cuts north through the center of the city and draws traffic from busy Interstate 10. Not only is land cheaper along the 215's southern stretch, it's been a revitalization stumbling block for the area, Sharp said, and needs a facelift.
"The city has been focusing on downtown for some time, and has had a hard time doing it," Sharp said. "I think that's because you have to drive through ugly to get there, and nobody wants to do that."
Replacing rental slums and empty warehouses along the freeway with office buildings, retail and family-owned housing will enhance San Bernardino's curb appeal, and help rebrand the city back to All-America status, Sharp said.
"We've seen the large banks really move away from doing a lot in the community, areas where they used to have a lot of visibility, and I think credit unions have a wonderful opportunity to step up and really be the main drivers of efforts to improve their communities," he said.
Additionally, credit unions are a perfect fit for long-term economic partnerships and community development, because they remain locally-owned institutions for decades. Successful community banks, on the other hand, are usually purchased by regional or national bank chains, and quickly lose their local connection, he said.
--heathercutimes@gmail.com
