Help Elect BECU’s Melba Bartels as Washington’s Representative on the Federal Home Loan Bank Board

Current board member Benson Porter is not seeking reelection; Bartels would seamlessly serve financial institutions in the role.

BECU EVP and CFO, Melba Bartels, hopes to be elected to the Des Moines Federal Home Loan Bank Board.

8/25/2020

Melba Bartels, a seasoned financial services industry leader with strategic, financial, and operational expertise, has tossed her hat in the ring for election as Washington’s representative to the Des Moines Federal Home Loan Bank Board. Bartels, Executive Vice President and Chief Financial Officer (CFO) of BECU, hopes to win the seat, now occupied by BECU’s President and CEO, Benson Porter, who has decided not to seek another term after eight years of service.

“The FHLB is a critical provider of liquidity to the industry and provides credit unions with the most direct access available to capital market funding in the form of advances, and the secondary market for liquidity through the Mortgage Partnership Finance Program,” Bartels said. “My focus as your representative on the FHLB Board would be first and foremost to ensure that FHLB remains a reliable source of funding through good times and difficult times, with effective risk management practices to make sure that is the case.”

The Northwest Credit Union Association supports Bartels’ candidacy and is asking Washington credit unions with voting shares to vote for her when ballots are issued in September. Balloting will be open from Sept. 24 to Oct. 30. Results will be announced in November, and the newly elected Directors’ terms begin Jan. 1, 2021.

“The FHLB is an important resource for community-based lenders, and we firmly believe it is important to maintain credit unions’ perspective on the board,” said Troy Stang, NWCUA President and CEO. “Melba would bring more than 30 years of financial services experience to the board, and she is passionate about the value the not-for-profit cooperative financial services model brings to Main Street. We appreciate her commitment to serve.”

Stang thanked Porter for outstanding service to financial institutions during his terms on the FHLB Board.

Prior to joining BECU, Bartels served as Senior Vice President and CFO at HomeStreet Bank, held numerous strategic, operational, and financial leadership positions at JPMorgan Chase and Washington Mutual Bank, including eight years focused on Corporate Treasury and Capital Markets activities. She is also a former sell-side equity analyst at Ragen Mackenzie.

Bartels was nominated for the FHLB board election by Porter.

“Since joining BECU in 2017, Melba has showcased a vision and approach that focuses both on sustainable expenditures and innovation that spurs long-term success,” said Porter. “Based on her extensive capital markets experience, as well as strong operational and strategic focus, Melba has brought new sophistication in capital and liquidity management, planning, reporting, operations and more, ensuring we are well-positioned to navigate these tough economic times with a focus on supporting our members and long-term sustainable growth.”

Five Things to Know About Melba Bartels

1. She’s up for this!

The native Washingtonian worked her way through college, then spent more than 20 years in for-profit banks, before taking a leap of faith to the Credit Union Movement.

“I truly am a convert. Credit unions provide individuals and small businesses access to financial services, not based upon increasing shareholder value, but based on improving the financial health of our members.”

2. She’s a recognized business leader.

Bartels was named to the Puget Sound Business Journal’s CFO of the Year list in 2019 and was presented with the Executive Excellence Award by Seattle Business Magazine this year.

3. She believes in equal opportunity and access to the American Dream.

“Equal opportunity cannot exist without financial inclusion. Financial services are a basic need to effectively participate in our society.”

4. She walks the “People Helping People” talk.

Bartels currently serves on the Seattle Colleges Foundation Board of Directors (previously the Seattle Central Foundation). She is a member of the International Women’s Forum and Financial Executives International.

 5. She’s all about those Huskies.

After attending South Seattle College, Bartels graduated with a bachelor’s degree in finance and Executive MBA from the University of Washington.

Editor’s Note: Jim Hunt, SVP, CFO of OnPoint Community Credit Union, ran unopposed and was elected to the FHLB Board of Directors. More on Jim coming to Anthem next week.

Have a question or comment about this story? Email us!