SMCU’s Romero Elected to Federation Board of Directors

Richard Romero, President/CEO of Seattle Metropolitan Credit Union, has been elected to the National Federation of Community Development Credit Unions’ (Federation) Board of Directors.

“Richard embodies the Federation’s values and their mission of helping low- and moderate-income people and communities achieve financial independence,” the Federation said in a press release.

“Everyone deserves access to affordable, fair, and competitive financial services,” said Romero, “and not-for-profit credit unions excel in serving the underserved. I am excited and honored to help lead the Federation as we continue to expand financial inclusion.”

Romero brings more than 27 years of financial services experience—including 14 years in credit unions—to the Federation Board. His expertise lies in leadership, a strong belief in the cooperative model, and an extensive history in retail banking, lending, and member service.

The Federation is an association of credit unions that provide safe and responsible financial services to underserved communities. It does this by deploying innovative products and initiatives, spreading expertise, investing in member credit unions to expand impact, and advocating with policy makers to promote financial inclusion.

Recent Federation initiatives include:

  • The development of CU Impact, a new core platform to scale up the delivery of innovative products and services to better serve low-income communities;
  • The introduction of Secondary Capital II Loans that recently received a funding commitment of $10 million from Bank of America;
  • A newly expanded CDCU Mortgage Center that enables member credit unions to offer non-conforming mortgages to low-wealth borrowers;
  • The national expansion of Juntos Avanzamos, a program to empower Hispanic consumers; and
  • Pathways to Financial Empowerment, a financial counseling model that tracks client and institutional outcomes.

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org.

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