Virginia Credit Union CEO Jane Watkins Honored for Contributions to Credit Unions, Community

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Virginia Credit Union President/CEO Jane Watkins, the 2010 recipient of the Virginia Credit Union League's Eugene H. Farley Jr. Award of Excellence

LYNCHBURG, VA (05/17/2010)(readMedia)-- Jane Watkins, President/CEO of Richmond-based Virginia Credit Union, has been honored with the Virginia Credit Union League's prestigious Eugene H. Farley Jr. Award of Excellence for her service to the state and national credit union communities. The award was presented May 7 at the League's 76th Annual Meeting in Reston, Virginia.

The Eugene H. Farley Jr. Award of Excellence is given annually to a credit union professional or volunteer official in recognition of his or her outstanding contributions to an individual credit union or to the credit union movement. In particular, the award seeks to recognize achievements that exemplify credit unions' "People Helping People" philosophy. It is named in honor of retired League President Eugene Farley, who served the League and Virginia's credit unions for more than 40 years until his retirement in 1999.

Watkins joined Virginia Credit Union in 1982 as its accounting manager. Named president in 2000, she has guided Virginia Credit Union through a period of dramatic growth, while adhering to the sound principles that have kept credit unions strong at a time when nearly all sectors of the economy have been severely challenged. Virginia Credit Union, now the largest state-chartered credit union in Virginia, has grown from $629 million to $1.9 billion in assets under her leadership. The number of credit union members has grown from 125,000 to almost 200,000.

"I'm proud of the way our credit union has grown, certainly, but the greatest satisfaction comes when I hear success stories directly from our members," says Watkins. "I love to hear from members who have discovered the value of saving, rebuilt their credit, or bought their first car with the credit union's help. These stories demonstrate the positive difference we have made for our members. And I'm proud of the way we've expanded services and technology while continuing to offer simple, uncomplicated solutions for our members that help them get ahead. Like a lot of credit unions, we have built a culture that is focused on the best interests of our members and therefore our members view us as a trusted resource."

A recognized leader in state-chartered credit union issues, serving on state and national committees that deal with such matters, she has also become a key advocate for Virginia's credit unions with members of Congress and the Virginia General Assembly.

"Credit Unions were created by law, and the way we serve our members can be improved or harmed by the legal and regulatory environment in which we operate," she notes. "I think it is vital that lawmakers understand the work we do on behalf of our members and the difference being part of a cooperative can make in helping our members to get ahead. I feel legislators want to do the right thing but they desperately need good information to make good choices."

Her credit union was also among the first in the nation to hire a full-time educator to teach financial literacy topics in schools, colleges and the community. She was an early leader of an initiative by the Virginia Credit Union League's Board of Directors to turn financial literacy into a priority for all Virginia-based credit unions.

"It's clear that having a basic understanding of financial matters is essential to achieving success. It's also clear that a lack of financial education is behind many of the problems that we read about and see on the news," she says. "At VACU, we've tried to take a proactive approach with schools, the community and our own members by providing resources and tools to help people make smart decisions about their money, design a practical budget that works for them, understand how credit works, and make wise choices for themselves and their families."

Active in community activities, she has served on the board of governors for The Community Foundation, the Virginia Council on Economic Education and the Virginia Commonwealth University Foundation. Watkins is an alumna of VCU. She was an executive in residence at Longwood University in 2005-2006, a member of Attorney General Jerry Kilgore's Task Force on Identity Theft, and has served as a panelist of local business leaders that advised students in the Fast Track MBA program at Virginia Commonwealth University.

Among her many awards is an honor from the YWCA of Richmond, which selected her as the Outstanding Woman in Business in 2009.

"One of the things I've enjoyed most about my career is the many opportunities to work with others to make a difference. I have learned so much by serving in various capacities within our community and within the credit union industry," says Watkins. "I feel blessed to have gotten to know so many talented, passionate people, and I think it's true what they say about volunteering: you get so much more in return than you feel like you give."