Join Mark at Credit Union Conversation today as we talk to Todd Stauffer, a seasoned relationship manager in the world of credit unions, about his career journey and insights on business lending and financial services. With years of experience working with credit unions and big banks, Todd shares his unique perspective on what drives success in the industry and how relationship managers can build strong business relationships. From discussing the differences between big banks and credit unions to sharing his favorite summer activities, Todd offers a wealth of knowledge and entertaining stories. Tune in for an engaging conversation that explores the world of credit unions and business lending.

IN THIS EPISODE:

• (00:00) Intro: Meet Todd Stauffer
• (01:34) Todd’s early career experience in finance
• (04:23) Todd discusses the impact of Wells Fargo shutting down its Financial division
• (06:37) Todd Stauffer’s experience working with South Carolina Federal Credit Union.
• (09:55) Working with big banks vs. credit unions
• (12:00) Working with credit unions allows access to decision-makers and a personalized approach to serving members
• (14:08) How to connect with Todd Stauffer and other credit union professionals at MBFS

KEY TAKEAWAYS: 

• Credit union culture and values are distinct from big banks, with a focus on serving members and communities. Todd Stauffer shared his experience working with both big banks and credit unions, highlighting the differences in product management, decision-making, and community involvement.
• Emphasizing business lending expertise within credit unions, relationship managers like Todd play a key role in managing commercial portfolios, supporting local communities, and offering personalized service. This approach stands in contrast to the big bank experience, underlining the advantage credit unions offer in building direct connections and providing tailored loans and financial solutions.
• Community involvement is essential for credit unions to understand the needs of their members and provide effective solutions. Todd Stauffer's work with credit unions and his involvement in local communities highlight the importance of building relationships and trust with members and community leaders.

RESOURCE LINKS

Mark Ritter - Website

Mark Ritter - LinkedIn

Todd Stauffer - LinkedIn

KEYWORDS: Credit Union, MBFS, Todd, Stauffer, Lending, Business, Loans, Relationship, Manager, Credit Unions, Business Lending, Community Involvement, Financial Services, Member Service, Pittsburgh, Community, Members, Finance, Portfolio, Commercial

[00:00:31] So we have a pretty quick episode today. Uh, just, uh, introducing one of our, uh, longtime, uh, credit union relationship managers today. Joining me today is Todd Staffer from Western Pennsylvania. Todd, how are things out there doing well, mark. Sunny day here. Soll.

[00:00:55] Mark Ritter: I'll, I'll take it over the rain that we've been having usually, uh, my [00:01:00] grass is scorched brown, uh, this time of the year and I'm never cracking out the lawnmower. And today, this year I feel like I'm in a jungle. Yeah. Nonstop. I hear you. Yeah, we've had a lot of rain as well, so thanks for, uh, taking some time out today.

[00:01:34] Todd Stauffer: sure. So, you know, believe it or not, I've been at MBFS, it'll be six years, January 1st, coming up in 2026.

[00:01:51] Mark Ritter: Yeah. So, to give, let me, uh, I always like to have, uh, our, our people give their origin story. So let's just kinda walk [00:02:00] through, uh, your, your background and, and, and where you're from and college years and kind of, uh, walk through, uh, how, how you ended up here.

[00:02:34] Got to make some cold calls, work with multiple lenders to, to place deals for car loans. And that's really what kind of catapulted me into the, uh, finance world. And the, were you

[00:02:50] Todd Stauffer: No extended warranty. I was helping getting people qualified for financing and we had internet leads and I was making cold calls.

[00:02:59] Mark Ritter: Okay. Well [00:03:00] I'm gonna make, I'm gonna put you on the phone call. Cold calling now. I think then. Yeah,

[00:03:06] Mark Ritter: It, it, I have done that early in my career and there is no better lesson to somebody than to say, here's a number of somebody who you don't know. Just call 'em.

[00:03:27] Uh, graduated in finance and, uh, was able to get a job with Wells Fargo. Uh, there was a division called Wells Fargo Financial, specialized in FHA mortgages, debt consolidation. So I actually got to start working there, uh, prior to graduation, which was really nice. How the heck did you

[00:03:49] There's usually a line that people don't cross.

[00:04:12] So really enjoyed it, but worked in, uh, Mechanicsburg starting out. Uh, so that's, that's where I got my start. Uh, working in the mortgage division, uh, was interesting. Learned a lot and a couple months into that job. Wells Fargo shut down that whole division of Wells Fargo Financial. So it was July, uh, 2010, they called us up and said, Hey, we're shutting down this whole division.

[00:04:45] Mark Ritter: and, and I remember it wasn't I, when I was young, very early in my career, it was one of these things too where they called you in and been like. Okay, you don't have a job anymore, and you just [00:05:00] feel like the world is on your shoulders of like, what the heck happened?

[00:05:18] Todd Stauffer: Yeah, it was, it was, it was scary and it was, um, you know, definitely kind of a, a, a blindsiding moment.

[00:05:45] Pretty much every internal job at Wells Fargo, I could. To get any interview I could, and I applied up and down the East Coast, and that's how I ended up, uh, in Charleston, South Carolina. Well, that, that's not a bad

[00:06:06] Todd Stauffer: Yeah, for sure.

[00:06:31] Mark Ritter: So from there, that's when you first started to get some experience with credit unions, right?

[00:06:49] But they actually launched a business banking program in South Carolina. I got chosen for, uh, and that really is how I got into the business lending aspect and really got out there in the community [00:07:00] and. Um, I had always had my accounts at credit unions and I really got to know, uh, one of the local credit unions down there just has such a good community presence and there was an opportunity to go into just business lending and focus on that.

[00:07:19] Mark Ritter: So let's give a plug to our friends at South Carolina Federal Credit Union. If you're in South Carolina in the Charleston area, check 'em out. They helped develop the Todd and, uh, gave me one of the best gifts we have at the, at the qso, so thank you.

[00:07:36] Todd Stauffer: Yeah, for sure. So they, they gave me a shot to come in, do, uh, commercial lending. Um, and that was just a huge experience to manage a portfolio, really dive in. To what the credit union stands for and the community that they serve and really get down to, you know, working with the community and, you know, getting out there and, um, you know, had a [00:08:00] great team down there, some wonderful colleagues, uh, colleagues I'm still in contact with today.

[00:08:22] Mark Ritter: So I remember when I interviewed you, I said, you are the first person in history to move from Charleston back to the Pittsburgh area.

[00:08:39] Todd Stauffer: Yep. Sure. Yeah, for sure. So what,

[00:08:51] Todd Stauffer: I think just the overall pace is probably the biggest change and the, the biggest adjustment back, uh, [00:09:00] is just, it's this, it's night and day difference.

[00:09:15] Mark Ritter: Uh, I would, I would have to agree with you there. Uh, I, I think if though, if I was, if I was lived in Charleston, I would need about three doctors with the food that they have there.

[00:09:35] Mark Ritter: So you worked in the biggest of bigger, biggest mega banks twice and now mm-hmm. Working with and for credit unions. What, what do you see as, as kind of the big, big differences, both good and bad, and you're not gonna hurt our feelings, so.

[00:10:22] So, uh, working with the big banks. I, I will say that having the technology, you know, especially Wells Fargo, they, they just had such outstanding technology and just on top of everything, and that was really, really nice to have, especially being out in the communities that we serve to, you know, entice bigger businesses, et cetera.

[00:11:07] So that's really important. And a lot of times is the products that they have are not tailored to the community that they serve. Um, credit unions really have that one app where they, they're really in the communities, their C-suite. Knows who they serve, and they can really pinpoint, you know, what their niche is in the market.

[00:12:01] Todd Stauffer: Yeah,

[00:12:02] Todd Stauffer: lot to learn and, but I think coming into the credit union world. Uh, having access to decision makers, that's just been so key and I think that really the customers appreciate that and our members are just served, uh, in a different capacity, which I really like.

[00:12:23] You're gonna, we're gonna be, uh, hitting you up again for two weeks on another episode. So it's a steamy summer. It's been a rainy summer and it's been a hot summer. So what do you and the family like to do, uh, in the middle of the summer? What, what, what's the fun spot for you because you're in prime time with the kids?

[00:13:02] We're gonna head South Central Pennsylvania, do some weekend trips. Uh, we did vacation, you know, back down to North and South Carolina. So it's been a really busy summer, but really have enjoyed it. Mark. Thanks.

[00:13:33] So.

[00:13:43] Mark Ritter: well, it seems overwhelming now. And, uh, when, when they're all gone, uh, you know, at, at some points I like having the flexibility and, and sometimes I, uh, I miss having them around and, uh.

[00:14:19] Credit unions deals, so we'd love to talk to your credit union about how we can help facilitate loans with you through, uh, our team like Todd and others that we have. So check us out@mbfs.org. Check, uh, Todd Stauffer out at LinkedIn, check me out at LinkedIn, connect with us and, uh, we would love to help out you and your credit union.