More than numbers
Steve Dahlstrom’s legacy at STCU
[October 9, 2010]
In 76 years, STCU has had three presidents.
Ernie McElvain served from 1934 to 1969. Next came Clare Chapman, who served until 1991 and mentored the wunderkind who would become his replacement.
That man, Steve Dahlstrom, will retire at the end of 2010 as president and chief executive officer of the Inland Northwest’s largest credit union, having overseen the greatest period of growth and change in our history. Consider:
- When Dahlstrom arrived in 1980, STCU had 10,000 members, 25 employees and one branch.
Today: 90,000 members, nearly 400 employees and 14 branches. - In 1980, STCU had $21 million in total assets.
Today: $1.4 billion. - When Dahlstrom became president and CEO, STCU had no website.
Today: More than half our members use STCU online banking at stcu.org.
Dahlstrom began his career in 1978 at Missoula Federal Credit Union and was named manager within three months. He was fresh from the University of Montana and had served a stint in the Navy.
In 1980, Dahlstrom saw a playful picture of the entire STCU staff riding the Looff Carrousel and applied to be vice president. He figured he’d spend a couple of years proving himself in Spokane, then move to a bigger organization in Seattle where he could moor a sailboat on Puget Sound.
Though there were opportunities to leave, Dahlstrom stuck around. He enjoyed his STCU colleagues and the board of directors. He could drive to Missoula for Grizzly football games and sail with the Lake Pend Oreille Yacht Club. His daughter sang with the Spokane Area Children’s Chorus.
And Dahlstrom became active in the civic life. He served on boards and in other leadership roles for the Eastern Washington University Foundation, the Northwest Museum of Arts and Culture, and Greater Spokane Incorporated. He served on the Spokane Workforce Development Council, helping create jobs, increase wages and provide opportunities for career training.
He encouraged others to get involved, too.
Late last year, Dahlstrom stood before a business group for what many thought would be a pitch to join STCU. Instead, he pulled a $20 bill from his wallet and urged everyone in the room to “give one of these” to a worthy cause.
In that year’s holiday letter, Dahlstrom reminded STCU members that, while making donations is important, “imagine the impact if everyone – regardless of income – also wrote a letter of appreciation, took a kid fishing or dropped in on a lonely neighbor. We’d be the richest community on Earth.”
Spokane Mayor Mary Vernor praised Dahlstrom in her 2010 State of the City Address as “exemplifying business engagement in the civic life of our community.”
Dahlstrom also is known as a leader in the credit union industry, culminating in his election to the board of directors for the Credit Union National Association, the highest achievement for a credit union CEO.
Though he is stepping down as leader of STCU, Dahlstrom plans to remain involved in community activities and the credit union industry.
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