When it comes to making smart financial decisions, you’d be hard pressed to find someone more qualified than Brent Wilson. Brent spent 35 years as a professor of finance at Brigham Young University, where he often consulted with large, international financial institutions. Brent became a UCCU member in 1982 and a board member in the late 1990s.
Today, Brent brings his decades of international expertise to UCCU and its members. He specializes in financial analysis and investment decision making and utilizes his background in the lending industry to provide guidance on a wide range of issues related to the credit union. “In the current low-interest-rate environment, the decisions for investing UCCU’s assets are very challenging,” he says. “I believe I provide some additional perspective on these decisions.” Brent shares his insights to the following questions:
What excites you most about where UCCU is right now?
UCCU has been conservatively managed and fortunately did not suffer from many of the challenges faced by other financial institutions during the “great recession.” As the economy improves, UCCU is well positioned to provide needed services to the members. Additionally, UCCU’s growth allows us to invest in the infrastructure such as mobile technology to provide the financial services our members want.
What UCCU products and programs are you most proud to be associated with and why?
During the time I have served on the board, the financial industry has evolved from “bricks” to “clicks.” This has been a difficult transition for many financial institutions, particularly smaller institutions. Fortunately UCCU has been able to devote the resources needed to stay at the forefront of this evolution.
What are challenges you look forward to helping with over the next few years?
Because of abuses by some large financial institutions, we face an environment of increasing government regulation. Although these regulations are not specifically directed at credit unions, we will have to respond to them. Complying with these regulations will be costly and will impact our ability to provide services to the members. Another challenge for us will be to provide the delivery of financial services as our members increasingly adopt mobile technology.