Community Financial Credit Union (CFCU), based in Michigan, has spent decades serving its members with the simple principle that financial services should be built around people, not profits. At the helm is CEO Tansley Stearns, who took on the role in 2022 and has been guiding the credit union toward deeper community impact and thoughtful innovation.
Stearns’ connection to credit unions started early in her career, when she joined a small credit union serving Macy’s employees. That experience gave her an understanding of cooperative finance, a model where members are also owners, and where growth and success are tied directly to improving members’ lives. After holding leadership roles across the country and even working with an industry think tank, she returned to her home state to lead CFCU, which has grown to $1.5 billion in assets, 350 employees, and 15 branch locations.
Focused on Community Needs
Unlike traditional banks, credit unions are not-for-profit financial cooperatives. That difference matters. Members pool their deposits to support loans and other services for fellow members, and any surplus goes back to the membership in the form of lower fees and better interest rates.
At CFCU, this model translates into programs built for real-life challenges. For example, CFCU offers specialized loans for survivors of domestic and sexual violence, designed to help people safely leave difficult situations and rebuild their lives. The credit union has also piloted efforts to better understand financial obstacles that come with life changes such as cancer treatment or divorce, creating solutions to reduce stress during those times.
Recognition and Culture
Stearns was recently named one of Crain’s Detroit Business “Notable Leaders in Finance,” and Forbes listed CFCU among Michigan’s top credit unions. She attributes those achievements to her team and the organization’s values.
CFCU emphasizes belonging and respect for differences within its workforce. That focus on employees often translates into better experiences for members. It’s an approach grounded in listening: understanding what members need and responding with products and services that fit their situations.
Innovation Without Losing the Human Element
CFCU recently opened a new branch in Detroit and plans to add another in West Bloomfield, reflecting a continued belief in the value of physical locations for building trust and relationships. At the same time, the credit union is investing in digital services, including a website upgrade that allows new accounts to be opened online in less than five minutes.
The team is also exploring how artificial intelligence might improve operations, from reducing repetitive tasks for employees to creating smoother experiences for members. For Stearns, AI is not a replacement for people but a tool that can free up time for employees to focus on what matters most: serving members.
Looking Ahead
As CFCU approaches its 75th anniversary, the focus remains on Michigan communities. Stearns emphasizes growth not as expansion into new states, but as a chance to deepen local impact, strengthen relationships, and improve services for members across the state.
For those considering credit unions for the first time, Stearns encourages people to take a look. Membership is open to anyone who lives, works, or worships in Michigan. And thanks to technology investments, signing up takes just minutes online.
Want more Beyond the Bank? Start with the articles, or head to Spotify or Apple Podcasts to listen to the entire collection.
