Company: Xceed Financial Credit Union, El Segundo, CA, U.S.A.
Company Description: Xceed Financial is a workplace credit union, with 14 Financial Centers (branches) in five states, but our nearly 65,000 members are located throughout the country. When they choose Xceed, members get a financial partner that delivers all of the conveniences associated with big banks, with a level of personal service and value the big guys just can’t match.
Nomination Category: Individual Awards Categories
Nomination Sub Category: Female Executive of the Year – Consumer Services –11 to 2,500 Employees

Nomination Title: Teresa Freeborn, President and Chief Executive

Describe for the judges the activities and accomplishments of the nominated executive since the beginning of July last year (up to 525 words):

Teresa Freeborn became President and Chief Executive for Xceed Financial Credit Union in September of 2006. With 200 associates and fourteen Financial Centers in five states, Xceed currently serves 65,000 members and has $1.1 billion in assets under management. A passionate advocate for the credit union movement for 40 years, Freeborn is also committed to the values of diversity and inclusion. She devotes considerable personal time and effort to leading events, conferences and workshops focused on expanding opportunities for women to thrive in leadership roles.

Since July of 2013, here are some of Freeborn’s major career accomplishments:

• Xceed Financial celebrated its 50th anniversary, setting records for growth in both deposits and member loans, and reaching $1.1 billion in assets under management at a time when many credit unions and other financial institutions of comparable size struggled to stay afloat in the face of significantly-increased regulatory requirements, fast-changing technological challenges, and intense competition.

• In the summer of 2013, Xceed Financial consummated a merger with Safeway Los Angeles Federal Credit Union. Favored by both credit unions, the merger was orchestrated by Freeborn. Increasing Xceed Financial’s membership by almost 20%, and expanding the Credit Union’s footprint in Southern California, it also opened the door to new growth opportunities as Xceed’s comprehensive range of financial products and services were shared with the new members.

• In keeping with her vision for the Credit Union’s future, Freeborn has championed advanced technology that enables Xceed Financial to effectively compete with financial institutions of much larger size. Since July 2013, much of the focus has been on promoting the Credit Union’s mobile app, including its mobile deposit capability. In December 2013, the Credit Union launched its first “digital wallet” product, helping members speed through online checkout, while protecting their debit and credit card information.

• In June 2014, Xceed Financial announced plans to launch a new credit union service organization (CUSO) that will leverage the Credit Union’s considerable expertise in lending operations, products and related services – bringing those capabilities to smaller credit unions nationwide. The CUSO will enhance efficiencies at Xceed, while giving smaller credit unions access to new members and member service opportunities that aren’t available to them now because of the high costs of running loan operations and complying with government regulations.

• Since July 2013, Freeborn has volunteered her service on numerous boards that advance the credit union movement, promote collaboration among credit unions, further the professional education of credit union managers, raise funds for the movement’s charity of choice (Children’s Miracle Network) and seek to grow the ranks of women in leadership roles at credit unions. These organizations include: the Research Council for the Filene Research Institute, the California Credit Union League’s Board of Directors, the Board of Directors for the Credit Union Executive Society, the Western CUNA Management School Board of Trustees and the Board of Directors of the Richard Myles Johnson Foundation, which supports youth financial education. A champion for World Council of Credit Unions (WOCCU), she was an inaugural member and active participant in WOCCU’s Global Women’s Leadership Network. She’s also a recent appointee to WOCCU’s World Leadership Development Committee.

Upload a collection of supporting files and web addresses to our server to provide more background information to the judges. You may upload any number of attachments and URLs through the "Add Attachments, Videos, or Links to This Entry" link above. (Do NOT list your URLs below.)

Provide a brief biography of the nominated executive (up to 125 words):

Teresa Freeborn oversees all aspects of Xceed Financial’s operations and represents Xceed globally. Previously, she was Senior Vice President of Marketing & Communications for Kinecta Federal Credit Union, and President of Kinecta Financial and Insurance Services. Prior to moving to the United States from Canada, Freeborn was Vice President, Services & Communications at Central One Credit Union in Vancouver, British Columbia. A passionate advocate for the credit union movement, Freeborn serves on the boards of numerous professional organizations, is the immediate past chair of the Credit Union for Kids Advisory Board – Childrens Hospital Los Angeles, and continues to serve on its Wine Auction Committee and the SacTown 10-Mile Run Committee.