As CEO, Winona Nava believes that all of her credit union's members should be able to access every product or service, regardless of their circumstances or earning power.
"Everyone deserves to be treated with respect and dignity, no matter what choices they have made in their life, where they came from, or any other obstacles they face," said Nava, the president and CEO of Guadalupe Credit Union in Santa Fe, New Mexico. American Banker has selected Nava as one of its
Nava joined Guadalupe as CEO in 1991 after learning it was teetering on the verge of closure with slightly over $10 million of assets. She saw an opportunity to turn the beleaguered institution around.
One of the starkest examples of Nava's commitment to her principles came some 20 years ago when she made the bold move to initiate individual taxpayer identification number lending to expand financial access to local residents who lacked other documentation (the Internal Revenue Service issues an ITIN to people regardless of immigration status to allow them to meet their tax obligations).
It was a newer concept and difficult to implement
Nava also knows what it's like to face financial difficulties. As a single mother, she worked various jobs to complete her own education while supporting herself and her son. During her journey to become a credit union CEO she always worked to help others like herself by promoting diversity and inclusion at every turn.
Learning and teaching others how to succeed has been Nava's mantra. Hired as a collector at State Employees Credit Union Santa Fe in 1978, Nava embraced every opportunity to learn new skills and advance, working her way up the ladder over more than a dozen years to executive vice president.
When she took over as CEO of Guadalupe, Nava recruited a new board that believed in diversity and equity, and worked with state and federal regulators to put Guadalupe on a path to growth and survival. Within a year, the credit union stabilized and became a hub of services for a diverse mix of customers in a state with one of the highest poverty rates in the U.S.
Around 2000, Nava worked with the board to expand its focus on serving immigrants. Since then, Guadalupe's services have expanded to rural areas where consumers lacked financial access. The credit union's seven branches now serve five counties.
With help from a National Credit Union Foundation grant, Nava opened a branch in a part of Santa Fe with a high immigrant population, offering extended hours for members who worked long shifts in the hospitality and construction industries. The original location in a strip mall outgrew its space within 18 months and expanded to become one of Guadalupe's busiest branches.
The credit union — which now employs about 100 people and serves more than 25,000 members — obtained community development financial institution certification in 2010, enabling Guadalupe to extend more than $6 million in special grant funds within New Mexico.
Nava encourages all staff — including collections, branch managers and loan departments — to become certified in financial counseling.
"Financial coaching is an everyday activity here," she said, adding that the credit union offers financial literacy and coaching through youth programs and also via homeless shelters and low-income support and justice programs. "If we meet people where they are with coaching efforts, we can help people discover paths to build and design their own lives," Nava said.
When last spring's Calf Canyon/Hermits Peak Fire threatened communities in the nearby mountains — forcing the small Rincones Presbyterian Credit Union to evacuate — Nava provided temporary space at a Guadalupe branch for the displaced credit union staff to operate.
In 2020, Nava became a co-founder of the Credit Union Women's Leadership Alliance, which has helped the female leaders of small credit unions collaborate on solving problems and breaking down organizational and community barriers. Nava, one of 13 founders, appreciates how the group helps women lead credit unions "with strength and confidence," noting that many larger institutions typically are run by men.
Many have noticed her work. Early next year the National Credit Union Foundation is honoring Nava in Washington, D.C., as one of four winners of the prestigious 2023 Herb Wegner Memorial Award for outstanding individual achievement.
Nava's next big challenge will be one of her hardest: She's retiring at the end of 2023. An executive search has begun, and Nava is starting the difficult process of letting go of duties that dominated her life for three decades, so other staff members can develop and learn new skills. "After 31 years in my current role and 13 years at my previous credit union, retirement will be a big adjustment for me," she said.
