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Christopher Moss begins his role as president and CEO of Volt Credit Union on Oct. 30.
TAWNIE WILSON | SBJ
Christopher Moss begins his role as president and CEO of Volt Credit Union on Oct. 30.

Volt taps credit union veteran as next CEO

Posted online

Volt Credit Union has tapped Oklahoma credit union veteran Christopher Moss as its new president and CEO.

Moss replaces Loretta Roney, who departed in May after nine years at Volt for a CEO position at InCharge Debt Solutions and InCharge Education Foundation, an Orlando, Florida-based nonprofit.

Moss comes to Volt from Credit Union One of Oklahoma, where he was executive vice president and chief operations and compliance officer. The Volt position is his first CEO role.

At Credit Union One, he assisted in directing operations, including planning and implementing programs and policies, overseeing new technology and providing general administrative direction, according to his resume. Prior to that role, he was vice president of operations and lending.

Moss also has a background in banking, having worked as an assistant branch manager and bank officer for the Bank of Oklahoma, based in Oklahoma City.

Chief Administrative Officer Vicki Owens, a 36-year veteran of Volt, served as the credit union’s interim CEO from May to October.

“I’m really excited for him to join our team,” Owens said. “I’m excited for the vision he has to take Volt to the next level.”

Moss said Volt has strong financials and has built a solid foundation.

Volt’s assets were $90.5 million in 2022, up from $89.7 million in 2021. Deposits were $82.5 million, up from $82 million in the same period. Loans were $60.9 million in 2022, up from $56.2 million the year before, according to Springfield Business Journal list research.

Membership in 2022 was 7,070, down 2.3% from the previous year.

By comparison, Credit Union One tallied $45 million in assets in the second quarter of 2023, down from $48.4 million in Q2 2022, with $31 million in loans, up from $25.4 million year over year, according to LendingTree LLC.
Moss said Volt’s growth is something he hopes to continue to build.

“We’ll be looking to grow that market presence,” he said. “We want to expand outside of Springfield to smaller markets that maybe are underserved. That growth opportunity is vital to our members.”

What’s next
Bill Jameson is president of the Volt board of directors and led the search process, contracting with Cornerstone Resources’ executive search and professional recruiting division. Roughly 115 people applied for the role, according to Volt officials.

Jameson said Moss’ credit union experience and knowledge made him stand out.

“He has concern for the member as well as the employee, and he fits our Volt culture,” Jameson said.

Volt created the slogan “Revolt against banking,” and Jameson said he believes Moss is on board with that concept.

“We want to serve our members and offer more services, faster service and more products in the technology field,” Jameson said. “He can take us to the next step in our vision.”

Volt has two Springfield locations, with another coming for students and staff of Hillcrest High School in 2024. Volt serves members in a nine-county area, according to Jameson.

“We want to reach out into those areas and get some branches there,” he said. “When he gets on board, we’ll visit about that.”

Moss said he plans to spend time observing when he takes the helm on Oct. 30.

“I want to come in and see what’s going on currently – what’s working and not working – and make tweaks to programs that exist,” he said.

What he likes best about the credit union is its community presence.

“I hope to grow in that area,” he said.

His own community service has included volunteerism at the Oklahoma City Zoo, where he worked with elephants and rhinos for an average of five hours per week. After relocating, Moss said he hopes to volunteer similarly at the Dickerson Park Zoo.

Though much of his service has been for animals, Moss noted that over the years he has internalized the mantra of credit unions, which is people helping people.

“Credit unions are here to help when things are uncertain – if you have poor credit or no credit, our borrowers are going to have much better terms,” he said. “Helping people find solutions for their problems is what credit unions are all about.”

Based on his experiences in the industry, he said, credit unions communicate well with one another and with their members.

“You won’t necessarily see two banks talking together about best practices, but with credit unions, there are typically some monthly gatherings to discuss things that are affecting our members,” he said. “We’re very community driven – very focused on our shareholders.”

Growth opportunities
Jameson said Volt has focused on home loans and home equity lines of credit, and next it is looking to go into commercial lending.

“Venturing into that is on our radar to start,” he said.

Jameson said financial institutions face challenges right now, and so do consumers.

“Money’s tight for everyone,” he said. “A lot of them are not saving – it’s taking all they’re making to live.”

That’s part of the rationale behind putting a branch inside a high school, Jameson said.

“We’re trying to educate people,” he said.

He said credit union customers seem to want a relationship, and that gives Volt another chance to educate people.

“They can come in and we can talk to them one on one to help them financially,” Jameson said. “We want that environment. A lot of our members, they like to come in and see somebody.”

Owens said she believes rough economic times lie ahead.

“It depends on who you listen to. A recession could come early next year, or it could be later next year. We might have a depression in the 2030s. Who knows?” she said. “We want to make sure we’re positioned as a safe and trusted resource for our members so they can do the banking they need at a place they trust.”

Under Roney’s leadership since May 2014, Volt rebranded from Community Financial Credit Union in 2018. In her time as CEO, Roney oversaw a growth in assets from $59.2 million to $90.4 million, and loans increased from $22.4 million to $61 million.

Roney also led the company in its $2.5 million investment in a new headquarters on West Republic Road which was opened in 2019, and then a second new location added on North Kansas Expressway in 2020.
The institution was established in 1935 with a number of name changes since its founding.

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