Gordon Simmons, Retired CEO

Gordon Simmons

Gordon Simmons Service Credit Union Leader from 1974-2015

Gordon Simmons joined Service Credit Union in 1974. Before becoming President of Service, he served in various capacities, to include the direct management of three branch office locations throughout various points in his career, Vice President – Overseas Operations, and Senior Vice President.

He is dedicated to excellence, professionalism, support of the credit union movement and furthering the initiatives of all credit unions.

Gordon Simmons Service Credit Union Leader from 1974-2015

Gordon served as President/CEO and Treasurer/Secretary of the Board of Directors of Service Credit Union, headquartered in Portsmouth, New Hampshire from 1995 – 2015. Gordon Simmons Service Credit Union leader for 41 years brought a lot to the table.  

Service Credit Union had more than $2.7 billion in assets upon his retirement in 2015 and was the largest New Hampshire based credit union, the largest state chartered financial institution in New Hampshire and the 60th largest in the United States out of more than 6,000 credit unions.

Service Credit Union had 52 branch offices, 34 of which are in New Hampshire, one in Falmouth, Massachusetts, one in North Dakota at Grand Forks Air Force Base, a Virtual Branch and 15 additional offices in Germany that exclusively served U.S.
Air Force and Army military members.

Upon his becoming President/CEO in January 1995, Service Credit Union offered basically savings, checking and loans.

Through the introduction of technology driven products and services, Gordon led improvements that afforded Service Credit Union’s vast membership, spread around the world, 24/7 continual service and access to their financial accounts.

His product additions and accomplishments made the credit union relevant and viable, and a stiff competitor in the financial industry.

gordon simmons service credit union leader for 41 years

Gordon Simmons Service Credit Union Leader Professional Credentials

Gordon Simmons’ career accomplishments are vast and recognizable to many who bank with Service Credit Union today. His forward-thinking ideas to help members save money included:

Gordon Simmons Service Credit Union Leader For 41 Years also championed using technology more effectively, including these initiatives:

Added various online technology services including iPhone & iPad mobile apps; SMS text messages; PopMoney; FinanceWorks; WebDeposit24; liveChat24; Online account opening & funding; International Bill Pay; E-Statements; MyCardDesign; German (V Pay) Debit Cards; Chip & PIN debit & credit cards; and more

Gordon Simmons Service Credit Union Leader for 41 years increased the overall financial product offering from standard savings, loan, checking and CD’s in 1995 to those offered by major U. S. banks through 2015. This includes mortgage lending; online home banking & bill payment; foreign exchange; business accounts & lending; insurance sales.

Introduced Shared Branching enabling SCU members to access their accounts at over 7,000 non-SCU branch locations and over 30,000 surcharge-free ATM’ around the world as though they were served in one of our branch locations and for free.

Merged four credit unions into the SCU brand opening five offices expanding the credit union’ field of membership and reach.  The merger afforded SCU to annex all of Coos county, the last of the 10 counties in NH that SCU previously could not serve.  Prior to that, SCU served 9 of 10counties in the state.  They now serve all 10.

Conversion of the credit union’ charter from federal to state in October 1998 enabling an expansion of SCU’ Field of Membership significantly enhancing membership growth and income throughout New Hampshire, but overseas as well.

Added in-branch & online foreign exchange services greatly improving member service.

Greatly enhanced SCU’ membership potential by adding U. S. Forces worldwide to the credit union’ area of service.

Increased by more than 40 the number of branch locations worldwide to enlist new members, grant interest income generating loans and facilitate overall growth.

Founding of a parent Credit Union Service Organization (CUSO) with three sub-CUSO’ affording the growth of lending to businesses that otherwise would not qualify for financial service from Service Credit Union; offering worldwide insurance sales; and worldwide foreign exchange sales by other financial institutions (foreign exchange by other FI’ not yet offered).

Opening of the first in the U. S. active-duty military branch office on Grand Forks Air Force Base, ND, leading the way to future military base stateside expansion.

Grew Service Credit Union from $282 million to $2.78 billion in assets in 20 years, with most of the growth coming over the past 10 years of his presidency.

Led the effort to construct the new SCU Corporate Offices headquarters building ensuring space for credit union financial and employee growth within his pre-determined 10year growth plan.

Achieved the highest examination rating 18 of 20 years annually that can be earned from credit union regulators, the National Credit Union Administration & the New Hampshire Banking Department. Only twice was the rating the second highest.

Created and offered the STAR; SENIOR; SEG & WARRIOR Rewards Programs all leading to excellent and rapid member and income growth.

Grew Reserves & Retained Earnings to over $345 million and a healthy, industry leading 12.5% Net Worth to Assets ratio.

Overcame the Reduction In Force (RIF) of military bases twice in Germany which could have led to a decrease in membership/customers due to their reassignment.  However, I limited loss of members and income by taking advantage of other opportunities to enhance growth,

In his last year at the helm before retirement in 2015, Gordon accomplished the following important developments aiding Service Credit Union growth:

Gordon Simmons Education

Mr. Simmons graduated from the University of Maryland with a bachelor’s degree in Business and the University of Utah with a Master’s in Business Administration (M.B.A.) in Quantitative Analysis.

Gordon Simmons Financial Leadership

Gordon Simmons served as Director and Chairman of the Defense Credit Union Council (DCUC); Chairman of the America’s Credit Union Museum Foundation; Board Chairman of the New Hampshire Credit Union League (NHCUL); and Chairman of the Armed Forces Financial Network, LLC. (AFFN). 

He also served as Chairman of the New Hampshire Credit Union League’s Marketing and Shared Branching committees, Chairman of the league’s Federal Legislative and Audit Committees and has also served on the National Association of Federal Credit Unions (NAFCU) Region I Advisory Committee.

Gordon Simmons Military Background

Born in Pottstown, Pennsylvania, he has more than 45 years of credit union experience, and spent many years overseas in direct contact with Air Force and Army command headquarters, military community leaders and commanders as well as Department of Defense liaisons in Washington, D.C. 

He was a founding member and served on the European Credit Union Coordination Committee [ECUCC] and was a member of the American Society of Military Comptrollers [ASMC] as well as the Association of the United States Army [AUSA]. 

Gordon served his country in the Army Finance Corps with specific expertise in Finance Plans and Operations. Upon leaving active military duty, he was employed in Accounting and Finance for the State of Pennsylvania, where he obtained permanent civil service status. 

He began his credit union career in February 1970 with Redstone Federal Credit Union in Stuttgart, Germany.

Gordon Simmons Service Credit Union leader for 41 years is now retired and is shared his years of experience and knowledge on this website.