NEW YORK — Since making the switch from the banking industry to Municipal Credit Union, Kam Wong has pushed the credit union toward growth and innovation and deeper into the community.
Wong started his career in accounting positions at Banco do Brasil and Chase Manhattan Bank before coming to Municipal as chief financial officer in 1988. In 2006 Wong was promoted to president of the credit union, and in March 2007 he took on the role of CEO as well.
"Banks are oriented to their bottom line and must satisfy their shareholders," Wong said as to why he made the change from working at a bank to a credit union. "Credit unions care about their members. Unlike the banking industry, credit unions can only raise their equity by working hard on the bottom line, where as banks can issue stocks and increase their equity position."
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