Marty Pell, President & CEO, Wellby Financial

In an interview with Invest:, Marty Pell, president and CEO of Wellby Financial, discussed the company’s growth strategy, member-focused innovation, and its role in strengthening financial wellness across Houston. “We have a simplified purpose statement, which is to help people prosper,” Pell said.

How has Wellby Financial performed over the past year?

The past year has been strong for Wellby Financial. The financial services industry struggled through 2023 and 2024 with interest rate shocks and liquidity pressures, but over the last 12 to 18 months, the operating environment has become less volatile.

From the member perspective, we have seen a 100-point improvement in how members rate our service over the last several years. They have responded positively to our digital offerings, our service model, and the way we interact with them. We have also embedded AI into much of our marketing, allowing us to deliver customized solutions based on member transactions, behaviors, and interests. As a result, our member growth has exceeded the industry.

Financially, we had a strong rebound year. We are well capitalized, with about a quarter-billion dollars in cash, access to about $1 billion in liquidity, no debt, and a high-quality balance sheet.

We are also proud of our workforce engagement. Our engagement scores continue to exceed the national benchmark by more than 10%. We were named a Best Place to Work by the Houston Chronicle for the third straight year, Forbes named us the third-best credit union in Texas, and Newsweek named us one of America’s best credit unions for the third consecutive year.

What trends are shaping the credit union and financial services landscape in Houston?

Credit quality is one of the biggest issues we are monitoring. Across the industry, delinquencies and net charge-offs have increased somewhat, and foreclosures are appearing again for the first time in many years.

Houston is blessed with a dynamic and diverse economy, but we are not immune to broader economic pressures. Another major trend is consolidation. The financial services market remains fragmented, with many banks and credit unions operating across Houston. Over time, consolidation seems likely because scale matters, especially with increasing technology investments and regulatory requirements.

We are positioning ourselves to be a winner if consolidation occurs because of the strength of our balance sheet, liquidity, and organization. Ideally, any consolidation would be chosen by firms rather than forced upon them.

How is Wellby positioning itself to attract talent and adapt to technological change?

We have an internship program every summer that includes local college students and others interested in financial services. Over the last several years, we have retained some incredible talent from that program, and several of those individuals are now rising stars within the organization.

Purpose also plays a major role in attracting people to Wellby. We have a simplified purpose statement, which is to help people prosper. We are motivated to help as many people become financially independent as possible because that benefits individuals, families, and communities.

On the technology side, one of our priorities is incorporating AI into daily functions. Banking is highly regulated and policy-driven, so one of the things we are exploring is creating a miniature large language model that houses our policies and procedures. That way, if a teller is helping a member and encounters an unfamiliar question, they can quickly search the system and receive guidance. It would simplify the process for employees while improving service for members.

How is Wellby supporting financial literacy and fraud prevention?

We have begun publishing a quarterly fraud-focused newsletter for our 130,000 members. It provides best practices and simple training to help members recognize threats and avoid scams. Fraudsters have become increasingly sophisticated, so education is critical.

We are also using AI, multi-factor authentication, and other protective tools to safeguard member data. In addition, we routinely test ourselves through third parties to identify vulnerabilities, and we are fortunate to have a strong cybersecurity team.

Financial education is another important focus. Last year, we delivered 251 financial wellness courses and workshops. These programs are designed to help people prepare for a stronger financial future and better understand how to protect themselves from fraud and financial hardship.

How are member expectations evolving, and how is Wellby responding?

Members are more informed than ever and expect more personalized and convenient services. We are responding with an AI-driven marketing system that reviews transaction activity, account usage, and member behavior patterns.

Based on that information, members receive customized communications recommending products or services that may fit their needs. We believe we were among the first credit unions to develop this type of approach, and it has been effective in helping us grow membership.

This strategy is supported by a broader marketing effort focused on understanding who our target members are, what they want, where they are, and how they prefer to communicate. Over the last year, we have improved execution in all those areas, and the results have been encouraging.

Ultimately, the goal is financial peace of mind. Financial stress can create problems across every area of life, so our mission is to help people build stability and independence.

What personally drives your passion for this work?

I spent many years in banking before joining the credit union side, and while there are structural differences, both industries share the same opportunity to use capital to help people.

My passion comes from personal experience. My family once struggled financially and even faced bankruptcy protection and foreclosure. A family friend named Joyce had built financial independence through disciplined saving and responsible financial habits. Because of that, she was able to help my family during a difficult time.

When I graduated high school, there was a car waiting for me as a graduation gift. At the time, I had no idea how that was possible given our financial situation. Years later, I learned that Joyce had purchased the car and allowed my family to pay her back over time.

I was that kid opening the present with the car keys inside. That experience shaped how I view this work and why I care so deeply about helping people achieve financial security.

Where do you see Wellby Financial over the next three to five years?

We have a well-defined growth strategy approved by our board. Today, we are concentrated primarily in southeast Houston, but our long-term plan is to grow throughout the city.

This year, we are slated to open three new locations, and over the next three to five years, that could become around 10 locations as we continue expanding across Houston. We believe we have a compelling story, a strong mission, and products and services that genuinely help people.

We will continue refining those offerings to ensure they remain relevant and valuable to our members while growing our presence across the region.

Are there any additional milestones you would like to highlight?

This year, we are celebrating our 65th anniversary as an organization. In honor of that milestone, we paid out about $9 million to members this year.

On Valentine’s Day, members unexpectedly received emails informing them they would receive money based on their relationship with Wellby. Some received $100, some $500, and some as much as $2,000.

Many members later shared stories about how that money arrived exactly when they needed it most during financial hardship. It was a meaningful way to celebrate 65 years of serving our members and communities.