Kristin VanBeek, CEO & President, Rockland Federal Credit union

In an interview with Invest:, Kristin P. VanBeek, CEO of Rockland Federal Credit Union, highlighted the institution’s milestone of surpassing $3 billion in assets and its expansion into mortgage and commercial lending. He also emphasized plans for rebranding and enhancing financial literacy programs to further serve our community.

What have been some recent achievements for Rockland Federal Credit Union?

As a credit union, we offer many of the same financial services as banks, but operate based on cooperative values, meaning we are owned by our members. This allows us to offer better rates on deposits, lower loan rates, financial education, and make a bigger impact in our communities One of our significant recent achievements is reaching $3 billion in assets. While that might not seem huge for a traditional bank, it’s a major milestone for a credit union. This not only strengthens our financial position, but also enhances our capacity to generate even more value to our members and deepen our community involvement.

What differentiates Rockland Federal Credit Union from other competitors in the region?

Our ability to provide personal service is a key differentiator. We can truly customize solutions for our members, which larger banks can’t always do because they need to standardize. Having worked in various roles in the banking industry — at the Federal Reserve, FDIC, and on a bank’s board of directors— I’ve seen how much autonomy credit unions have. When I joined DCU (Digital Credit Union), I saw firsthand how credit unions make a real difference, and it convinced me to stay in this industry.

Another unique aspect is how credit unions work together. In traditional banking, that’s rare. A great example of this is shared branching, a service we are currently working to introduce at RFCU. This will allow our members to conduct transactions at other participating credit unions, and vice versa. It’s a remarkable level of cooperation that sets the credit union world apart.

With the Fed cutting interest rates, how do you anticipate this will affect the credit union and its members?

Overall, it’s a positive for everyone — our members, the credit union, and the broader financial services industry. There is a small caveat, though. The Fed recently cut rates by 50 basis points, exceeding the anticipated 25, and there’s talk of another 50-point cut. For financial institutions, stability and predictability in rates are crucial. Sudden shifts can disrupt risk models. That said, the current outlook is positive. I believe that we’ll see continued momentum for the next few years, barring any major resurgence in inflation.

How has the evolving economic landscape impacted your clients’ planning strategies?

It’s still a work in progress for many — whether it’s other credit unions, our members, or small business owners. The big question is whether to make that significant investment now. For us, that translates into large loans, like home loans or equipment financing. Just last night, a member reached out to me about purchasing a building. As interest rates begin to moderate, people feel more confident about making those larger moves. I believe the most recent rate cuts are already encouraging people, and that trend is likely to continue.

What opportunities for growth do you see in the Boston area?

Historically, we’ve specialized in automobile financing. We’ve successfully built a robust portfolio with billions in auto loans. With rates dropping, we anticipate a surge in auto sales and lending. However, we’re actively broadening our focus. We’re moving into mortgage lending, home equity lending, commercial lending, and other niche markets. That diversity will enable us to grow, especially if rates hold steady or drop further. Now, we’re well-positioned to take the lead in these areas. Auto loans will always be a core part of what we do, but we’re expanding into these new segments as well.

How significant is the role of technology in shaping investment strategies?

I expect technology and data analytics to continue growing exponentially for Rockland Federal Credit Union. We’ve operated as a traditional credit union for much of the past decade, but we’re now modernizing nearly every aspect of our operations. A key example of this transformation is our core system conversion, set to be completed in 2025. This upgrade will improve our ability to collaborate with partners and enhance the services we offer to our members.

More importantly, it will empower us to analyze our own data more effectively. Over the last year, we’ve built a small but powerful data team that’s already providing valuable insights into emerging trends. Data analytics is a significant part of our strategy, and its importance is only going to become more central. Additionally, AI is also making a huge impact. Every day I see AI being used for analysis in some capacity, and while we are using this on a micro level now, we are beginning to identify larger trends that will shape our future.

What are some things to watch on the regulatory front over the next year?

The financial world is evolving at a rapid pace, as we’ve seen with the collapse of institutions like SVB. The speed of change in financial institutions is accelerating, and while banking has traditionally been slow to adapt, that dynamic is shifting.

At Rockland, we’re closely monitoring regulatory developments from bodies like the FDIC. My background is rooted in technology — I grew up around computers thanks to my dad, who worked in that field early on. That shaped my perspective and career. While other kids were playing catch, I was learning about dumb terminals and mainframes.

That early exposure paved the way to my role as CIO at Digital Federal Credit Union, and now, having a technologist as CEO is now a cornerstone of Rockland’s strategy. Our products — loans, deposits — are often commoditized, but what sets us apart is how we deliver them. The member experience is key, but so is how efficiently we deploy these services.

What is the importance of financial literacy and how Rockland is contributing to it?

Financial literacy is a personal passion of mine. During my 11 years at another credit union in New York, financial literacy was central to our mission. We had branches in the Bronx and Spanish Harlem, where we offered seminars on topics like first-time home buying, saving for college, and purchasing your first car.

One project we’re currently working on at Rockland is a “child’s account” program — a birthday box account designed to introduce kids to finance and banking from an early age and get parents involved in financial conversations. We’re also increasing our involvement with schools. Recently, we’ve done a lot with the Brockton public school system, and we’re planning to expand our efforts. We’re still newcomers to the community, but we’re excited to grow our impact.

To broaden our reach, online financial education is essential. One of our goals for 2025 is to develop a full catalog of online financial literacy courses. For example, if someone completes a short course on how to buy and finance a car, we might offer them a slightly better interest rate. The goal is to promote financial wellness and give a tangible reward for engaging in education.

What are Rockland Federal Credit Union’s top priorities for the next two to three years?

When I talk about our priorities, people often raise their eyebrows because we have a unique challenge — we need more office space! While most companies are downsizing, we’re cramped. The search for a new operations center and headquarters is a top priority. 

Another major focus for us is our rebranding initiative. Historically, Rockland has operated in the background — many members have had an auto loan with us without fully understanding our role as a credit union. We’ve often found ourselves in the shadow of other institutions, but we’re now stepping into the spotlight. We’ve wrapped a public transit bus with our branding, done TV interviews, and enhanced our social media presence — but that’s just the beginning. It’s exciting to see Rockland Federal Credit Union become more visible in the communities we serve.

We’re also going through a core system conversion, which is like a heart transplant for our operations. Our entire processing system is being modernized, and we’re upgrading all the surrounding systems as well. These enhancements will allow us to deliver better service and greater value to our members.