Johnson has more than 13 years experience in the credit union industry and more than 20 years as a financial services professional. Vaughn’s most recent credit union role was as chief executive officer of DayMet Credit Union ($92mm) in Dayton, Ohio.
By JAMES W. WADE III
Staff Reporter
Vaughn P. Johnson has been named the new CEO of Faith Community United Credit Union. Johnson replaces long time CEO Rita Haynes who served over 50 years.
“We are glad to have Johnson at our Credit Union,” said Henry Stoudermire, president of Faith’s Credit Union board.
Johnson has more than 13 years experience in the credit union industry and more than 20 years as a financial services professional. Vaughn’s most recent credit union role was as chief executive officer of DayMet Credit Union ($92mm) in Dayton, Ohio.
Prior to joining DayMet, Vaughn was vice president of Business Consulting for Members United Corporate Federal Credit Union, one of the largest corporate credit unions in the nation. In this role, he was responsible for the business relationships of more than 1,000 credit unions throughout the Midwest and beyond.
Previously, he served as the senior director of business consulting at Mid-States Corporate Federal Credit Union. In addition to managing many of Mid-States’ key accounts, Vaughn led a team of executive-level, senior business consultants who provided balance sheet solutions to credit unions to help them achieve their goals and objectives.
Vaughn began his career in the financial industry more than 20 years ago as a small business advisor with Prudential Securities. Later, he joined Lords Financial Banc as senior vice president of Business Development and Strategy before being promoted to executive vice president and chief operating officer.
His credit union career began as sr. director of business development for KEMBA Financial credit union. Johnson graduated from CUNA Management School at the University of Wisconsin Graduate School of Business and was elected class president.
The Ohio House of Representatives recognized Johnson’s commitment to business excellence when he was awarded a commendation for unprecedented excellence in business and finance.
As an award-winning professional, Johnson was instrumental in the growth and development of credit unions and their CUSO’s in the Midwest and beyond. In his capacity with Members United Corporate FCU, he routinely spoke to credit unions about membership development, deposit and loan growth, creative marketing and financial strategies to help ensure their continued success and future growth.
Johnson is also a graduate of The Disney Institute of Service Excellence and served as adjunct Instructor for Business and Personal Finance at The Ohio State University King Arts Complex.
Faith Community United Credit Union, Inc. “Faith” was chartered in 1952 by the State of Ohio as “Mount Sinai Baptist Church Credit Union” to serve the members of one inner city church. After saturating the membership and realizing the broader need for the services by the Low-income Target Population (LITP), in 1991, Faith became a Community Development Credit Union (CDCU) focused on serving low income residents of Cuyahoga County, Ohio. The credit union’s mission statement reflects that status as a CDCU is central to their identity and guides the policies of the credit union. Faith Community United Credit Union, Inc. a Community Development Credit Union (CDCU) is a financial cooperative owned by its members who live/work/worship in Cuyahoga County, Ohio.
It exists for the financial benefit of the membership and community at large.
The credit union’s focus on community development emerged when the savings and loans closed in the minority neighborhoods in 1989. The credit union became the only viable provider of financial products to the LITP.
Remarkably, one year after obtaining its community charter, Faith reached self-sufficiency. Faith moved from an office in the church basement to a donated abandoned bank branch building. Initially, Faith operated with an all-voluntary staff with $100,000 in grants and operational subsidy.
In one year, Faith operated with no outside funding and paid staff. Since then the credit union has operated with sophisticated management staff, over 50 volunteers and as many as two VISTA interns.
