26 THE NAFCU JOURNAL SEPTEMBER–OCTOBER 2022 CEO of the Year $250M or Less Steve Foley Bragg Mutual Federal Credit Union Fayetteville, North Carolina Throughout his three and a half years as President and CEO of Bragg Mutual Federal Credit Union, Steve Foley has assessed operations and employees, determined which policies, procedures, and training programs needed to be updated, and boosted employee morale. Under his leadership, Bragg Mutual began to see serious loan and asset growth in 2019 by focusing on “speaking with the member.” Member service speed increased, more products were being offered and used per member, and now, loan demand is very strong. After years of seeing membership decline, Foley opted to replace the existing Core to create more online banking opportunities and digital growth. Bragg Mutual’s membership stabilized and is now experiencing growth. The credit union has grown from $53 million in asset size to $110M during his term as CEO. Colleagues say Bragg Mutual’s recent successes are linked to Foley’s care for people and his ability ask hard questions. Foley is a “people first” person and his dedication to Bragg Mutual’s staff is one reason morale has risen since Foley’s time as President and CEO. He created the Soaring with Eagles award for which an employee is nominated by their peers and recognized for above and beyond service provided to members and the credit union. Because of Foley’s initiatives, Bragg Mutual now has a reputation for treating its employees right. Steve is a dynamic leader who worked hard to update the credit union’s systems and procedures and has overseen the training of Bragg Mutual employees to their highest levels. He stresses that education and training will make the credit union stronger and better, while prioritizing his own training and education by being a regular attendee of credit union industry conferences, including NAFCU’s CEOs, Strategic Growth, and Lending Conference. Foley has also spearheaded a management succession plan to ensure the success of the credit union moving forward. His ability to turn around Bragg Mutual’s trajectory has been written about in publications such as American Banker, CU Management Magazine, and CU Today. His leadership has helped steer the credit union toward continued success, growth, and expansion, evidenced by Bragg Mutual being recognized as one of the top 25 largest credit unions in North Carolina.
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