Issue 77 - Martin Komsa - His comments on the success of WFCU

There aren't many places in the City of Windsor and surrounding areas where you can go without seeing or hearing the Windsor Family Credit Union (WFCU) name, be it in a magazine, on the radio, at a community event or displayed on the area's main attraction – the WFCU Centre. WFCU President and Chief Executive Officer Martin (Marty) J. Komsa wouldn't have it any other way.

The key to WFCU's success as described by Komsa is simple - "We (WFCU) remain true to our vision and mission statement and follow the same core values and philosophies that have guided us for many years. WFCU has been able to adapt and evolve, meeting the needs of our members while staying true to who we are as an organization as well as focused on where we want to be in the future. We have built relationships with members and the community, remaining profitable while giving back to the community. It's a balance we've been able to maintain and are very proud of."

WFCU is a financial co-operative, owned, directed and controlled by its members. All deposits with WFCU are invested as loans to its members. WFCU serves 13,000 households and 27,000 members including 1,800 commercial clients and 1,300 community organizations in Windsor and Essex County. As of July 31, 2011 WFCU has administered assets of $878.1 million and total member service holdings of over $1.4 billion. WFCU is the largest credit union in Essex County and seventh largest in Ontario. The credit union is known to be forward thinking, progressive and is seen as a leader not only in Windsor and Essex County but throughout the cooperative movement across Canada providing services and a full range of quality products to its members.

As Komsa celebrates his 25 year tenure with the credit union he reminisces on the exciting journey WFCU has taken over the last 26 years.

WFCU’s history is one of determination and a desire to make the community a better place to live and work.

In 1985, there were over 70 credit unions in Windsor and Essex County. Four of these credit unions believed that the credit union system in the area was ready for a change. Through the leadership of board members, Marty Gillis, Bill Bedore, Dave Rowland and Walter Boerner, to name a few, these four credit unions came together to ensure that members and potential members would have a quality choice for their financial services. They knew that if a credit union could provide financial products and services at competitive rates, the people who live and work in Windsor and Essex County would benefit. The merger of these four credit unions formed Windsor Family Credit Union.

Marty Komsa was hired to be the leader of the organization. His background included experience in the financial services sector as a supervisor, branch manager, area regional manager and a director within the credit union system.

He had been employed in the employee relations department at a major steel company where he was responsible for management training, succession planning and employee development. His extensive background prepared him well for the challenges he would face while balancing the management of skilled employees, building a profitable financial organization for members and maintaining corporate social responsibility.

In 1986, supported by the Board of Directors, a new WFCU management team was put in place. The number one priority was to establish a credit union that would be the best in financial services and provide top quality services to the membership through highly professional staff. Komsa and the Board of Directors developed a strategic plan to support this priority.

On a regular basis the effectiveness of the plan was monitored and changes were made when necessary, all while keeping the best interest of the members and Windsor and Essex County at the forefront.

At the time, WFCU had 13,000 members, $38 million in assets, had a sizable deficit on its balance sheet and had many operational challenges that needed to be addressed. Within three years, the credit union began turning a profit placing money in financial reserves and turned many of the operational challenges into opportunities. Within five years, the credit union began to grow and has steadily increased its membership, assets and regulatory capital. Today it is positioned as one of the strongest, well capitalized credit unions in Ontario.

In the 1990s, WFCU began to establish itself as a leader in the credit union system through innovation, effective leadership and a quality approach to service. The concept of providing personal service through relationship marketing resulted in significant asset and membership growth. It was clear the membership supported the direction in which the credit union was heading.

In 2006, guided by the corporate vision - quality, convenience, innovation, open to everyone and yours to own - WFCU launched a new service structure that again strengthened its position in Windsor and Essex County. Through effective staff committees, member feedback and input from the Board of Directors, WFCU introduced new product and service offerings and restructured its organizational model to support the continued empowerment of staff and the delivery of exceptional member service.

Komsa says that, “over the years, the membership of WFCU has embraced the enhancements made and has continued to bring more and more services to the credit union. Today, WFCU provides financial, insurance, investment and trust services to four distinct groups of members; personal, organization, commercial and institutional.”

Providing competitively priced products and services, WFCU leads the industry by offering free chequing to commercial, community and personal members, and has introduced such member-centric products and services including The Professional 1 package of products, special rates for mortgages and Cashback GICs, Mobile Mortgage Specialists and the rebranding of WFCU Wealth Management, assisting members in creating a financial blueprint for their retirement, investment, insurance and estate planning needs.

Over the years, WFCU has received numerous awards and accolades in Community Investment, Marketing, Human Resources Management, Relationship Banking, Quality Improvement Process and Innovation. Multiple top rankings in national best workplace/employer lists, national marketing recognition through MACU (Marketing Association for Credit Unions) as well as local recognition as the Believe Windsor Essex recipient for WFCU’s contribution to this area’s economic development, top a number of well deserved acknowledgements.

Komsa himself was presented with the Queen’s Golden Jubilee Medal in recognition of volunteer service in the Windsor community, was named recipient of the Windsor Police Association Exemplary Person Contribution to the Community Award in 2004 and was the 2009 Jewish National Fund (Windsor) Negev Dinner Honouree. In 2010, Komsa was named Business Professional of the Year by the Windsor-Essex Chamber of Commerce and received the prestigious University of Windsor Clark Award in recognition of his commitment to the University of Windsor’s Board of Governors, committees and campaigns that work to increase the University’s profile and reputation.

Community investment

Komsa understands the responsibility he has to his team as a leader and the role he and the credit union play in the community. Balancing both has not only strengthened WFCU’s ability to satisfy its members but has positioned the credit union as a trusted, socially responsible organization dedicated to the needs of members and Windsor and Essex County. Ask any colleague of Komsa and they’ll describe him as an effective leader and team builder who sets and achieves very high goals in both his personal and professional life. Komsa is known to many as an individual with traits common to effective leaders; optimism, confidence, decisiveness, courage, engaging and with the innate ability to make tough decisions. His individual commitment to the credit union system and to our community is extensive having been appointed to many boards and committees throughout his career. Komsa is serving his eighth year as a director and is the current Vice Chair of Windsor (Canada) Utilities and is in his eleventh year on the Enwin Utilities/Powerlines Board of Directors. In past years, Komsa has served on many provincial credit union boards and committees and has served as Chair of the University of Windsor’s Board of Governors, as Director and President of the Board for Essex Golf and Country Club, as Director and Chair of the Board for Windsor-Essex Regional Chamber of Commerce and Director on the Board of Directors for both the United Way and Windsor Port Authority.

Continued growth expected

“The credit union continues to grow each and every year and it is a tribute to the effective leadership of my entire executive team, dedicated staff and committed Board of Directors. I have the privilege to work with people who believe in our brand just as much as I do and who have helped to grow WFCU from $38 million in assets to the $878.1 million in assets today. Our mission statement, vision and co-operative values remain intact and at the forefront of our strategic planning process. I am proud of our dedicated board, executive team, management and staff who are committed to ensuring that we serve our members to the very best of our ability and with the highest level of quality and service now and into the future. I am grateful for our members who have put their trust in us to provide them with the products, services and personal attention they can always depend on,” exclaims Komsa.

When asked about the future, Komsa is optimistic. “I’m confident in the future of Windsor and Essex County and in the further success of WFCU. WFCU’s allocation of our resources remains focused, balanced and directed at achieving our ultimate goal – to be the best credit union. I look forward to the future.”

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