June 30, 2022, is a significant date for Kathy McKinnon, CEO of SIUE CU. Exactly 50 years prior on that date, Kathy received her first paycheck from American Steel CU where she began her credit union career.
“I was born with credit unions in my blood,” said Kathy. She began working at age 16. Her mother was the manager of American Steel CU in Granite City and hired Kathy to help out in the office. They worked together at the credit union for 12 years until it merged. Her mother went on to a highly successful career building an insurance agency.
A chapter meeting in early 1984 sparked the next step in Kathy’s career path. Maxine Pakovich Callies, former CEO of SIUE CU, mentioned she needed someone to fill in for the assistant manager who was going out on maternity leave. Kathy took on the role and continued after the other person did not return to work. She also continued her involvement with the chapter for many years. “Chapter involvement was our fun time,” said Kathy.
Upon Maxine’s retirement from SIUE CU in 2006, Kathy was named CEO, a position she held for 16 years. During her tenure, the credit union grew from $1.5 million to $30 million in assets and expanded its product and service offerings. “I’ve always looked to the future because you have to offer what members want and make it available,” said Kathy. “We offer a full suite of lending and savings options for our members just like the big guys.”
Kathy hopes to see small credit unions thrive as they provide a unique service in their niche markets. “We used to be the only credit union here. Edwardsville (IL) now has 21 financial institutions. Our town is growing and it’s exciting to be part of it,” she said.
One of Kathy’s favorite memories about working at the credit union was coordinating the 50th anniversary celebration. “We had so many RSVPs we ended up renting a big tent to put next to the beautiful hall on campus to accommodate more than 300 attendees,” she said. “I loved giving out longevity prizes to people for being members for 40 or 45 years.”
She is most proud the credit union has earned top CAMEL ratings throughout the years and having very little staff turnover. “We have 4 full-time employees who have been with the credit union for years. We also hire one part-time person, usually a student, who stays until they graduate,” said Kathy.
While work accomplishments are satisfying, Kathy is most proud of successfully raising three children who now have families of their own. She looks forward to having more time with her six grandchildren.
During retirement, Kathy looks forward to traveling with her husband, Jim Groesch, and hopes to go on a European river cruise. She will spend time with her family on annual beach vacations.
“Love what you do,” said Kathy. “It shows in the way to treat members and interact with your fellow employees.”
