Curtis Wennberg has been named the new CEO of Steinbach Credit Union, taking over from Glenn Friesen, who is retiring early in the new year after more than 26 years at the helm of one of the most successful credit unions in the country.
For the past three years, Wennberg has been CEO of the Credit Union Central of Manitoba.
“I won’t be going far,” Wennberg said Thursday. “We are a co-operative system. SCU is a big member of Credit Union Central. Everyone has the same interests in keeping things steady and smooth and continuing to growing as we are.”
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Curtis Wennberg
Friesen is stepping down after accomplishing remarkable growth at SCU, starting when it had $750 million in assets and leaving just days after the organization announced it had passed $10 billion in assets.
“I’ve known Curtis for a few years. I know how he operates and I think he will be a really good replacement for me,” Friesen said.
Prior to his posting at CUCM, Wennberg, a native of Manitoba, had spent five years as chief operating officer of Manitoba Public Insurance. Before that, he’d spent about 18 years in a number of positions in the banking and financial consulting industries based in Toronto and elsewhere.
He’ll take over a credit union that, up until the last couple of years, had been the largest in the province. It has since been surpassed in size by Access Credit Union, after Access had undertaken a series of mergers.
SCU has grown organically over the years and operates from only three large branch locations, as opposed to the more than 50 Access now has.
“We like to say we’ve grown by one member, one product, one service — and then we do it again,” said Friesen.
Its three large branches (Linden Ridge and Lagimodiere Boulevard in Winnipeg and its headquarters in Steinbach), all provide the full range of banking services from retail, consumer, commercial and ag lending and wealth management.
“SCU has a unique business model,” said Wennberg. “When you go to conferences around the country, people recognize what SCU has done. It is a well-known star across the country.”
Maria Reimer, chair of the SCU board of directors, said: “Curtis is a visionary leader, with a proven ability to lead world-class organizations across financial services, cooperatives and beyond. The board is confident that he will build on Glenn’s legacy, leading SCU into an exciting new chapter of profitable growth, service to members and innovation.”
Friesen is scheduled to retire at the end of January.
“It is really exciting for me,” said Wennberg. “I can’t wait to go in there and help then continue with their successful path going forward.”
Martin Cash
Reporter
Martin Cash is a business reporter/columnist who’s been on that beat for the Free Press since 1989. He’s a graduate of the University of Toronto and studied journalism at Ryerson (now Toronto Metropolitan University). Read more about Martin.
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