ATLANTIC CITY, N.J. — There are a lot of things recently retired CEO of Texas Dow Employees Credit Union Ed Speed does not like. Collaboration, social media and e-commerce are just for starters. But he didn't keep his credit union from getting involved in those things.
"I hate social media. I hate e-commerce," Speed said during his address at the Credit Union Reality Check last Wednesday. "I know you've got to do it, but I hate it." He said he prefers to be face-to-face with his members, and if he began his career again, he would want to run a $100 million credit union.
That didn't keep him from growing TDECU from a $400 million credit union to nearly $2 billion in assets over his 10-year tenure. Speed and his team accomplished this with a relentless focus on lending. TDECU's greatest growth acceleration was aduring the financial crisis. He simply said, "We showed up." TDECU was making loans while other lenders were turning good risks away.
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