Nov 29, 2022
In today's episode of the "The Runway Decade Podcast," hosts
Bill Bush and Pete Bush, advisors at Horizon Financial Group are
talking with Steve Webb, Chief Executive Officer at Neighbors
Federal Credit Union.
- 06.00: Steve talks about the growth of Neighbors Federal Credit
Union. How he has watched its growth from $68 million to $1.3
- 07.13: Steve talks about the acquisition game that they got
into. It's about a decade ago they did one acquisition. But most of
their growth was organic and acquisition was about $45
- 11.03: Steve explains how their entire model of business is
based on taking appropriate risk and receiving a reward.
- 12.09: You have to really enjoy where you are spending your
time. You have got to enjoy the people you are working with every
day, says Steve.
- 12.52: Bill, Pete and Steve discuss the importance of work life
balance and how important it is to maintain it.
- 14.07: Pete shares he has two grandkids now and how they change
his perspective about things, about the future and about life and
- 17.02: As per Steve, goal of any parents is to produce
productive members of the society.
- 18.00: Bill says that they have this thing called the runway
decade and it's about life in your 50s.
- 18.27: 50 was an interesting year for Steve, because it was
when he was promoted to CEO of the organization.
- 19.05: 50 makes you think of your mortality and that life
doesn’t go on for forever, says Steve.
- 21.40: Steve always tells people all the time that mobility is
a quality-of-life equation to be if you can't walk or move or do
things, it really impacts you.
- 24.40: When you start talking about retirement and you think
you got a few years to plan, you better start planning today
because every day you wait, that time is going by.
- 25.20: Steve has talked to a few folks about what is that next
step as well. It's going to be a few weeks or months of just
chilling, but after that you can't stay on the sidelines
- 30.01: Steve says that they do a lot of Community efforts. They
have high school checking account programs where they actually
donate money back to schools. They have tuition and grant programs
where they assist students with furthering their education.
- 31.00: One of Steve’s mantras here is they talk about financial
confidence and financial confident people make the world better
because the lack of money or the lack of understanding about
financial stuff does the opposite.
Three Key Points
- Bill, Pete and Steve talk about their work and family and how
they balance work and life.
- Steve talks about life at 50 and how his mindset has changed in
a good way for healthcare.
- Steve shares what retirement means to him. For Steve retirement
is an opportunity to do some things that you really don't get the
opportunity to do today.
- “There have been things that... obviously, initiatives that we
have taken on that necessarily weren't successful and, sometimes
you've got to realize that and you've got to be willing to say,
hey, it was not a bad idea, might have been a bad implementation,
but at this point in time the bad decision is to continue pushing
through for something that's obviously not working.” – Steve
- “I don't care how hard you work and how many hours you put in a
day. At the end of the day, if you're just burning yourself out,
you're not really helping anybody.” - Steve
- “I tell people all the time outside of where ...I work inside
all day long, Monday through Friday and typically in the office. So
anytime I can get outdoors, I'm outdoors.” - Steve
- “You've got to get back and engage in something and you just
have to have the willpower and the strength to not let yourself get
roped into turn into a 60 hour gig every week again.” - Steve
- “Everybody's got their thing that they look forward to and we
don't have, I don't golf or hunt or fish or do all those things,
although I would go to enjoy time with someone. But our big thing
is travel.” - Pete
- “Just recently we created another grant program called Projects
in public schools where I think this year, we gave away $100,000
for just small public-school grants. Some of them are 1500 dollars
700, some of them are a few $1000, but there's an application
process at the schools go through and we just started a reward and
for some of those little extra things that the budget typically
doesn't allow for.” – Steve
- “What we are doing today will continue to grow. So the impact
will be greater rate two years from now, 10 years from now and so
forth.” - Steve