Bill Cheney on Member-First Leadership, Cooperative Finance, and Building Cultures That Serve

This week, Jessica sat down with Bill Cheney, CEO of SchoolsFirst Federal Credit Union, to explore what it really means to lead in a member-owned, mission-driven financial institution—and why the cooperative model creates a fundamentally different kind of culture. In this conversation, Bill shares how he discovered the power of credit unions early in his career and why the “people helping people” philosophy has kept him in the movement for nearly 40 years. He breaks down the unique freedom of serving members rather than shareholders, how SchoolsFirst maintains exceptional engagement across 3,000 employees, and why growth is an outcome—not the goal. Bill also opens up about the challenges of leading through economic cycles, how SchoolsFirst maintains 100% healthcare coverage for team members, and the thoughtful way they’re approaching AI to enhance—not replace—human judgment. From financial well-being to ethical decision-making, Bill offers a compelling look at leadership in a sector built on service, trust, and long-term impact. About Bill Cheney Bill Cheney is the Chief Executive Officer of SchoolsFirst Federal Credit Union. A small group of educators from Santa Ana College and Santa Ana High School founded the federally chartered, not-for-profit financial cooperative in Santa Ana, California in 1934. Today, the credit union has expanded to serve school employees and their families throughout California and is the largest credit union in the state and the third largest in the nation, with over 1.5 million Members and over $34 billion in assets.  SchoolsFirst FCU has been recognized by J.D. Power as the #1 Credit Union for Member Banking Satisfaction, Consumer Reports as the number one credit union in the nation for Customer (Member) Service, was named Best Credit Union in California by Forbes in 2024 and as Best Credit Union in Orange County by the readers of the OC Register for many years running. Bill credits this success to the credit union's Board of Directors and other volunteers, as well as the dedication of more than 3,000 teammembers who focus on SchoolsFirst's mission to deliver World-Class Personal Service and Financial Security to the Credit Union's Members.  Bill has worked in the credit union movement for more than 35 years. He joined SchoolsFirst FCU in 2014 after working in credit unions in Texas and California as well as being the CEO of credit union trade associations at the state and national level. He is a recognized leader in the cooperative movement and serves on the boards of the Consumer Federation of America, Worldwide Credit Union Foundation, the Filene Research Institute, Origence and the Western CUNA Management School Board of Trustees. In addition to his work with cooperatives, Bill serves on the Board of Trustees of Children's Miracle Network Hospitals, Children’s Hospital of Orange County and the UCI Chief Executive Roundtable.  Bill is a graduate of The University of Texas at Austin and also completed the CUES Directors' Leadership Institute at the London Business School and the Advanced Leadership Institute at Harvard Business School.  Bill and his wife, Crissy, live in Orange County, California. They have two adult children and five grandchildren. LinkedIn: https://www.linkedin.com/in/bill-cheney-95b7304/ Website: https://www.schoolsfirstfcu.org/ Host: Jessica Kriegel Website: jessicakriegel.com LinkedIn: linkedin.com/in/jessicakriegel Instagram: @jess_kriegel Culture Partners Website: culturepartners.com LinkedIn: linkedin.com/company/culturepartners