Spotlight On: Richard Sellwood, Senior Vice President & COO, USF Credit Union

December 2025 — Richard Sellwood, senior vice president and COO of USF Credit Union, sat down with Invest: to discuss the credit union’s expansion into new markets, its investment in digital innovation and AI, and its strategic efforts to personalize member experiences. “We’re especially interested in how AI can enhance member service, analyze data, and personalize offerings to create a truly exceptional experience,” Sellwood said.

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What changes over the past year have most impacted USF, and in what ways?

Two key initiatives are driving the biggest impact for us right now. First is our expansion into business banking. We’re building out a dedicated department with the right competencies, structures and processes to serve business clients effectively. It’s a major growth opportunity for the credit union and a powerful way to fulfill our mission: delivering financial solutions that improve members’ lives. Many of our members are small-business owners, and supporting them means supporting the broader community we live and work in. We’re excited to offer tailored products and services that meet the unique needs of each business, without becoming overly rigid.

The second major focus is exploring the role of AI in our industry. While we’ve begun using AI in limited ways, we’re looking at how it can help us operate more efficiently and reinvest savings back into our members and communities. We’re especially interested in how AI can enhance member service, analyze data, and personalize offerings to create a truly exceptional experience. These two areas, business banking and AI, are central to our strategy moving forward.

How have your recent digital upgrades changed member behavior and operational efficiency?

One of our most recent digital upgrades is the launch of Flex Pay, our version of buy now, pay later. Members have two flexible options, both accessible through our digital platforms. After making a debit card purchase, they may receive an offer to split the payment over time, effectively putting the funds back into their account. Alternatively, they can request funds in advance through our app and choose to repay it over the course of the coming months. This feature provides much-needed financial flexibility, especially as everyday expenses continue to rise.

We’ve also integrated live chat into our mobile app to enhance member support. With two-thirds of our digital activity now happening on mobile devices, we’ve adopted a mobile-first approach across all digital initiatives. Today’s members expect seamless, on-the-go service, and we’re committed to meeting them where they are.

USF Credit Union will expand beyond Tampa Bay with a new Winter Park branch slated for spring 2026. What does that signal about your statewide strategy?


USF Credit Union is opening its first branch outside the Tampa Bay area, marking a major milestone with a new public-facing location in Greater Orlando. We partnered with a site selection firm to identify the best location to serve both existing and prospective members, many of whom live and work in the Orlando region after attending USF. This expansion reflects our commitment to “Better Banking for All,” a tagline that underscores our inclusive approach.

While we’re proud of our USF roots, membership is open to everyone, not just those affiliated with the university. We’re excited to showcase the high-quality service we’ve built, which is consistently reflected in our Net Promoter Scores and overall member satisfaction. Our members love what we do, and we’re proud to bring that experience to a broader community.

You recently launched “Verde,” a cannabis banking program. What kind of demand are you seeing from businesses in this space?

This is a relatively new venture, and like anything innovative, it comes with some inherent risk. That’s why having the right structure and risk controls in place is critical — and I’m fully confident we do. What’s important to understand about credit unions is that we were founded to serve the underserved, including those with limited access to traditional banking services. Many financial institutions won’t touch this space because it requires a strong infrastructure and commitment to compliance. We’re proud to step into that gap.

This initiative involves serving state-licensed medicinal marijuana businesses in Florida, a market that’s often overlooked despite being legal. These businesses frequently struggle to find financial partners, and we’re excited to support them. The demand has been strong, and it’s a meaningful opportunity to expand our business while staying true to our mission of serving those who need it most.

How do you attract, upskill, and retain talent?

We take a multifaceted approach to building and sustaining a strong workplace culture, and we’re incredibly proud of the results. For the past two years, we’ve been recognized as a top workplace by USA Today, the Tampa Bay Times, and the financial services industry, with employee engagement rates exceeding 90%. Communication is at the heart of that success. As a $1.3 billion organization, we still hold monthly staff meetings where leadership shares updates, connects individual roles to our broader strategy, and fosters a sense of belonging. It’s our responsibility to create an environment where people can thrive.

We’ve also launched new development initiatives, including strategic and elevated leadership programs, to keep employees engaged and growing. From a retention standpoint, one of our most impactful efforts is Business College, a program for all first-year employees, regardless of department. Much like college cohorts, it builds lasting connections among peers through shared learning and guest speakers. It weaves new hires into the fabric of our organization and reinforces their sense of purpose. It’s a multipronged strategy, and we’re proud of the culture it continues to cultivate.

How is USF Credit Union engaging with the USF community and Tampa Bay neighborhoods to promote financial wellness and inclusion?

As a Select Employer Group (SEG) credit union, we partner with select employee groups to offer financial wellness clinics and events tailored to their needs. Whether it’s credit scores, budgeting, or auto loan planning, we provide these services to any SEG that wants to engage with us. Wellness is a top priority, and through our partnership with Balance Financial Fitness, we extend a full suite of financial education resources to our members. We’re deeply involved in the community and committed to supporting as many initiatives as we can. At times, the opportunities for financial wellness outreach feel endless, but we’re proud to be out there, making a meaningful impact wherever we’re needed.

What are your key goals and priorities for supporting regional growth while expanding across Central Florida?

We’re operating with a strong growth mindset and have so much to offer our community. One of our top priorities is breaking down the mental barriers that sometimes arise, whether it’s unfamiliarity with what a credit union is or assumptions tied to our close affiliation with the University of South Florida. While we’re proud of that partnership, our mission is to serve the broader community, and we’re committed to doing so. We’re also focused on evolving how we serve our members. As consumer behaviors shift, personalization is key. We’re leveraging our data to create customized offers and experiences that meet individual needs. With the resources we have, we’re well-positioned to deliver a member experience that’s truly tailored and impactful.

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