Since relocating to Springfield from Jefferson City in 2014, Loretta Roney has been at the center of numerous changes in the development of her employer, Volt Credit Union, as its CEO and president.
In just the past year, she’s steered a company name change, rebranding and $2.5 million investment in a new headquarters and second Springfield branch.
“I led every aspect from the design phase to picking furniture, finishes and the incorporation of our new branding strategy,” she says of the 2624 W. Republic Road office that opened May 1.
The construction was preceded by the rebranding efforts for the $66 million financial institution, formerly Community Financial Credit Union.
Before landing in Springfield, Roney had accrued eight years of experience as CEO and president of Jefferson City-based Highway Alliance Credit Union. Taking the reins of the much larger Springfield credit union was a significant professional move, she says.
“I was proud to grow as a professional and to be given an opportunity to further challenge myself and inspire a new team,” she says.
Now a C-suite veteran, Roney says leadership is intentional and must be practiced daily.
“Leaders don’t just take initiative themselves but are able to set a vision and ignite fire and passion in others to follow,” she says.
Roney says most of her time has been spent transforming Volt to improve its service in the community. That includes changing lending initiatives over the past three years to serve people of all credit and income levels.
“We feel it is just as important to help an individual who needs $700 to make it from paycheck to paycheck as it is to an individual borrowing $350,000 for a home loan,” she says. “In addition, I have taught free financial literacy and budgeting classes in the community. Consumers cannot be experts at everything.”
Community involvement has been a priority for Roney, with the credit union helping raise nearly $42,000 last year for Harmony House and Help Give Hope combined. She served as co-chair of this year’s annual Burgers and Cheers fundraiser, organized by Child Advocacy Center’s Young Advocates Council, for which she is a member. As a presenting sponsor, Volt has helped YAC raise around $150,000 for the event over the past three years, she says.
Roney also serves on the board of directors for the Borrow My Angel Foundation, a 501(c)(3) nonprofit working to help prevent suicide and promote mental health awareness. She says Volt committed $5,000 to become a founding sponsor and currently hosts the organization’s monthly board meeting and meals.
Noting the importance of being mentored earlier in her career, Roney now serves as a mentor herself. She points to a quote by Edith Piaf as a source of inspiration: “When you reach the top, you should remember to send the elevator back down to help others.”
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