What does it take to lead a credit union from $75 million to over $2 billion in assets? In this episode of Nest Egg Narratives, we sit down with Steve Swofford, longtime CEO of Alabama Credit Union, to unpack a career shaped by trust, timing, and a few bold decisions.
Steve shares the story of how landing Mercedes-Benz as a partner led to 500 new accounts in a week—and how that success opened doors to serve other major employers like Airbus. We talk leadership philosophy, financial literacy efforts (including a peer-to-peer student program at the University of Alabama), and the value of building real relationships—with staff, boards, and fellow CEOs.
From growing up raising pigs to fund college to leading one of the region’s most respected credit unions, Steve’s story is filled with hard-earned lessons for leaders at any level.
Topics Covered:
Hiring smart and leading with trust
The story behind Alabama CU’s Mercedes-Benz win
Building deep relationships with board members
Why financial education matters—and how to deliver it
Mergers, acquisitions, and how to know when to say no
What makes credit unions unique (and why it still matters)
Whether you’re a credit union executive, an emerging leader, or curious about how to scale community impact, this conversation is packed with timeless takeaways.
🧠 Key Takeaways
“Get the right people, give them resources, and get out of their way.”
Credit unions thrive when leaders prioritize transparency and trust—especially with boards and members.