CEO Onboarding: Jeff Carpenter, WEOKIE FCU

Long before Jeff Carpenter became CEO of WEOKIE Federal Credit Union ($1.3B, Oklahoma City, OK) in July 2020, his mom would read poetry to him on Sunday nights.

One of them was by Helen Steiner Rice:

The more you give, the more you get.

The more you smile, the less you fret.

The more you live unselfishly, the more you live abundantly.

“It’s got a Hallmark vibe, but that’s the essence,” Carpenter says. “To take my finance degree and find a career where I could actually help people every single day has been pretty amazing.”

Carpenter sat down with CreditUnions.com for this installment of “CEO Onboarding” to discuss his entrance into the industry, leading large institutions, and making time for members.

How did you join the credit union industry?

Jeff Carpenter: I was blessed that I was a student at Miami University in Oxford, OH, and got involved in a group called Researching Issues, which is a committee of student government. Long story short, a group of us figured out that there was soon to be a moratorium on the creation of student credit unions. We applied to the National Credit Administration in December of ’87 and were chartered March of ’88. I became chair of the first Miami University Student Federal Credit Union, which started my love and passion for credit unions.

In my senior year at Miami, I interned for the Ohio Credit Union League. I fell in love with the trade association world and aspired to become a league president. I did that for a while, but I started to see again that the shift of power was moving. So, I stepped back into the credit union space.

That’s when I had the privilege of working with Doug Fecher [former CEO] at Wright-Patt Credit Union ($9.4B, Beavercreek, OH), who taught me everything there is to know about credit unions. He helped me build that leadership muscle. I got a master’s degree in credit union leadership. Then, I had the opportunity to lead CME Federal Credit Union ($479.8M, Columbus, OK). That was an incredible experience. First responders are an amazing group of people.

What were you looking forward to when you took the role of CEO at WEOKIE?

JC: I’d worked at the Oklahoma Credit Union League from ’94 to ’99. The environment here in Oklahoma City is extremely collaborative and cooperative. I was excited to return to a larger credit union and the opportunity to expand impact. My predecessor at WEOKIE was a longtime friend and still is — in fact, he’s running one of our CUSOs — so I knew things were in good shape.

What notable changes have you overseen so far?

JC: A lot of significant changes revolve around lending. Previously, we were very risk averse. The Federal Credit Union Act of 1934 says we’re here to provide credit for provident purposes. That’s our mission. I follow Brett Christensen’s philosophy: The only reason to deny a loan is if you truly don’t believe the person will pay you back. It’s not just about credit scores or DTI. It’s about making a connection and asking: Do you believe they’ll repay?

Operationally, we had a decentralized loan system. We changed that with five loan officers and four processors, all in-house, which reduced the number of people making loans by 66% yet doubled loan volume. We didn’t cut staff, just consolidated responsibilities. It’s about putting technically strong people in focused roles.

The second shift was learning to manage in the gray. Some would rather prioritize a 1% ROA and a CAMEL 1 rating. Noble goals, but to me, credit unions exist to help people. We’ve put a lot of energy into seeing things from the members’ perspective again.

What trends are you watching closely? How have the strategic priorities at WEOKIE shifted?

JC: Right now as we kick off 2026 planning, AI is top of mind. I recently chaired the National Credit Union Roundtable before America’s Credit Unions, and AI feels like the game-changer. It seems like real scale is possible. One person with the right tools can do the work of three. More importantly, as someone at the roundtable said, AI can eliminate “no-joy work” so we can focus on the fun, strategic stuff.

The second big focus for me is consumer disintermediation. I don’t know exactly how it’ll unfold, but I’m obsessed with winning our members’ checking accounts. Historically, that hasn’t been a top priority. We were fine being a one-trick pony. If you wanted a certificate, share account, or loan, great, but now we know we’re too dependent on certificates. Thirty percent of our balance sheet is tied up in them, and that’s expensive money. So, we’re shifting strategy. We know loyalty lives where a member’s transaction account lives. That’s the place we’re determined to win.

There’s never been a better time for new executives to shake things up, change how business is done, and reinvigorate the industry. New leaders at credit unions large and small talk about experiences and insights as they navigate their first months on the job in Callahan’s CEO Onboarding Guide. Read it today!

What early lessons in your career still stick with you today?

JC: That at the CEO level, at a $1.2 billion institution, what you physically do is ineffective. Doug taught me when you get to a certain level, it’s not what you do but how you get the people who work for you to see your vision and execute it. That was magnified here. I had to step up at a different level than even when I left Wright-Patt. This organization required painting a vision and then creating guardrails for folks to make empowered decisions to achieve that vision.

What’s an experience from your time at WEOKIE that really stands out to you?

JC: I was visiting a branch doing a transaction as a member when I noticed a guy wearing a Wisconsin shirt. I said, “Hey! I lived there. Are you a Badger?” He replied, “No, I just got the shirt.” We chatted briefly, and I introduced myself.

A couple weeks later, he emailed, “You might not remember me. I was the guy in the Wisconsin shirt. I was wondering if we could chat.”

He came to my office and shared his story: He and his wife were foster parents trying to adopt two young girls. He’d done everything he could to make it happen. It was financially reckless, but for the right reasons. Fortunately, they now have strong incomes, but every day they were getting credit offers for $25,000, $30,000, or $15,000.

So, I asked, “How much are we talking?” He said $320,000. It was all signature debt from credit cards, JPMorgan, Upstart, Upgrade, with rates from 8% to 30%. I told him I didn’t know if we could make this work, but I’d try. I pulled in our mortgage and consumer lending folks. We had to make a policy exception, but luckily he owned a home and the market had appreciated. We were able to roll the debt into a home equity loan ultimately saving him $8,000 a month.

This interview has been edited and condensed.