WASHINGTON — Tom Dorety, the CEO of the $5.9 billion Suncoast Schools Federal Credit Union and incoming-CUNA chairman, suggested credit unions look at the currently slowing economy as a time of challenging opportunity.
"On the one hand it's a challenge because every one of our credit unions is going to see members who will be hurt economically by this and who will need their help," Dorety said. "But the opportunity comes from those same members and those same problems. This will be a chance for credit unions to have an even more direct and tangible impact on their members," he added.
Dorety, who has served with Suncoast for 20 years and as CEO since 1996, suggested that Suncoast was at one of the epicenters of the current economic situation as the CU and its members have seen property values on the southwest Florida coast plummet and suffered significant job losses as the wake of fall rippled through the construction, contracting, and service industries.
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Dorety stressed that he didn't want to make it seem like Suncoast was suffering any more than other credit unions across the country but still wanted to make the point that times like these will help CUs demonstrate to their members the tangible benefits of being CU members.
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