Joe Schroeder

Joe Schroeder once had a job at a basketball camp that required him to drive legendary UCLA coach John Wooden from Los Angeles to Thousand Oaks and back each day.

Schroeder says he’s taken what Wooden taught him and applied it to his 18-month tenure as the CEO of the San Diego Metropolitan Credit Union. With Schroeder at the helm, the CU doubled last year’s profit and is currently enjoying its best year ever, with an ROA of 1.77 as of June 30.

“It’s been a nice turnaround,” says Schroeder. “It’s our employees that have made the difference.”

Schroeder brings more than a decade of CEO experience to SDMCU, chiefly with Point Loma Credit Union, from 1990 to 1995, and with Downey-based Rockwell Federal Credit Union, from 1995 to 2004.

“Our CU has a wonderful field of membership,” he says. “I’ve been real impressed with a side of city employees that doesn’t get talked about, and that’s how dedicated these people are to the city and providing good service. Our board of directors is made up of people who want to give value back to the members. They don’t get paid so they’re here for the right reasons, to give something back to the people they work with.”

The membership is responding to SDMCU by borrowing; the CU sports a healthy 86 loans to assets ratio. Schroeder says it’s important to keep the base happy because the competitive CU market in San Diego makes member growth a challenge.

“This is the most competitive credit union market in the U.S.,” Schroeder says. “You try to differentiate yourself by offering convenience, and you have to be in the ballpark on pricing. And treating people as if they’re (the CU) owners, not customers.”

Schroeder says his lessons from Wooden extended far past the basketball court. “I learned a whole different definition of the word success,” he says. “It’s not always about making the most money. It’s about getting the most out of your potential and being the best team person you can be.”

Schroeder says some of Wooden’s wisdom takes time to sink in. “You don’t realize when you’re 18. Some of the stuff he said I thought was corny, like, ‘Be quick but don’t hurry.’” In sports, it’s about getting to your spot (on the floor), but not hurrying so you’re balanced and you can adapt and react.”

Schroeder says Wooden’s lessons work in business and everyday life. “Let’s say if you hurried and tried to open up too many branches. Then you’re not paying enough attention to the details. So that hurts your ability to adapt and react.”