Board of Directors

Board of Directors

Royal Credit Union was organized in April 1964 to serve employees of Uniroyal and their families. In November 1972, the Wisconsin Commissioner of Credit Unions gave Royal permission to add other employee groups to its membership and, eventually, Royal applied for and was granted a community charter.

Our current charter provides us with a field of membership that includes people who live or work in Adams, Ashland, Bayfield, Barron, Buffalo, Burnett, Chippewa, Clark,  Douglas, Dunn, Eau Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Polk, Portage, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn, and Wood counties in western Wisconsin, and Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey, Scott, Sherbune, Wabasha, Washington, Winona and Wright in Minnesota.

Today, we've grown from 100 Uniroyal employees to over 200,000 community Members. As a not-for-profit credit union, we are governed by a board of directors elected by our Members. Learn a bit about them below!

Read our annual reports.

Meet Our Board of Directors

Doug Olson

Chairman View Bio

Doug Olson

Chairman

Email doug.olson@rcu.org.

Doug has enjoyed the benefits of being a credit union Member for over 40 years. Because he truly believes in the credit union philosophy of People Helping People, he pursued serving on the Board of Directors and was elected in 1995. Currently, Doug serves as Chairman of the Board of Directors, Compensation/Governance Committee, and Political Action Committee.

Doug is active in the credit union movement and currently serves on the Credit Union National Association's Community Credit Union Committee. He believes in lifelong learning in order to be the best board member that he can be; therefore, he makes time for reading, networking, attending conferences, speaking at conferences, etc. He also is a Certified Credit Union Volunteer.

Doug had a vision of starting the RCU Foundation to focus on large-impact community giveback. The foundation has been up and running since 2013 and, through donations of several million dollars, has made a positive impact on the lives of many.

When asking Doug for his vision of Royal, he responded with:

“I believe in three guiding principles for Royal Credit Union:

  1. Democratic Member Control
    Credit Unions are democratic organizations owned and controlled by their Members, one Member one vote, with equal opportunity for participation in setting policies and making decisions.
  2. Members’ Economic Participation
    Members are the owners. As such, they contribute to and democratically control the capital of the credit union. This benefits Members in proportion to the transactions with the credit union.
  3. Concern for the Community
    While focusing on Member needs, credit unions work for the sustainable development of communities, including people of modest means, through policies developed and accepted by the Members.

 

I feel these principles express the principles of human development and the brotherhood of mankind through people working together to achieve a better life for themselves and their community.”

Doug is retired from his career at the Chippewa Valley Technical College (CVTC) where he served as the Executive Director of Operations. Prior to his career at CVTC, he was the founder and owner of Badger Window Systems where he manufactured windows, doors, and insulated glass serving the Midwest. He lives with his wife Pam on Lake Holcombe, which is 50 miles north of Eau Claire, Wisconsin.

 

Royal Credit Union | Tom Huffcutt

Tom Huffcutt

Treasurer View Bio
Royal Credit Union | Tom Huffcutt

Tom Huffcutt

Treasurer

Tom has been a credit union Member his entire adult life, including the past 20 years with Royal Credit Union. He currently services as Treasurer of Royal Credit Union’s board. Tom previously served on the Board of Directors for Cornerstone Credit Union in Freeport, Illinois, where he held the positions of Secretary and Vice Chair. Tom also served on Royal Credit Union's Nominating Committee for the four years prior to joining the board. He is a Certified Credit Union Volunteer (CCUV) and currently a Member of the Finance Committee. Tom previously served on the Audit Committee.

Tom's vision is to ensure Royal Credit Union offers a high level of value and customer service to our Members, in order to be the financial institution of choice in the communities we serve.

Tom is currently Vice President of Operations at Chippewa Valley Technical College. He holds a Master's Degree in Training and Human Resources Development from UW-Stout and a Bachelor's Degree in Business Administration from UW-Madison.

Tom and his wife, Mary, live in Altoona with their three sons Jake, Sam, and Joey.

Royal Credit Union | Jennifer McDonough

Jennifer McDonough

Secretary View Bio
Royal Credit Union | Jennifer McDonough

Jennifer McDonough

Secretary

Jennifer McDonough has been a Member of Royal Credit Union since 1988 and has served on the Board of Directors since 1997. She is currently Secretary of the Board, a member of the Compensation and Governance Committee, and Chair of the Audit Committee. Jennifer has also served as Vice Chair of the board and on the Building and Technology Committees.

"Royal Credit Union is growing for and with our Members; we will continue supporting and helping to build the communities we serve, now and into the future."

Jennifer has participated in a variety of community functions and credit union educational opportunities. She has completed the Credit Union National Association's Volunteer Achievement Program, the Directors’ Financial Literacy requirements, and is a Certified Credit Union Volunteer (CCUV). Jennifer is also involved in our community hospital health systems volunteering as a foundation board member since 2014. She currently serves as chairperson of that board.

McDonough earned Bachelor and Master in Education Degrees and a certification in Economics at UW-Eau Claire. She earned her Educational Administration Degree at UW-Superior. Jennifer retired as an administrator for Eau Claire Area Schools in 2016. She and her husband, Matthew, live in Chippewa Falls.

Royal Credit Union | John Sackett

John Sackett

Board Member View Bio
Royal Credit Union | John Sackett

John Sackett

Board Member

John has enjoyed the benefits of being a credit union Member for more than 40 years. His involvement with Royal Credit Union includes serving on the Political Action Committee, Audit Committee, and Board Advisory Committee. Previously, John served as Chairman of the board for 17 years and Treasurer for 10 years.

John is also very involved in the credit union movement on a state and national level because he believes strongly in the credit union philosophy. He currently services as a director on the National Credit Union Foundation, as well as President of the RCU Foundation. He also serves on the Credit Union National Association’s (CUNA) Board of Directors and served as the first Chair of the CUNA Volunteer Leadership Committee. John has also served on CUNA’s Community Credit Union Committee as Vice Chairman, CUNA's Mergers Task Force, and the CUNA Task Force on Due Diligence.

John enjoys attending and making presentations at Credit Union Executive Society (CUES) and CUNA conferences plus many state and local seminars relating to credit union activities. Not only is John a Certified Credit Union Volunteer, he also has received the following certificates for completion of the National Volunteer Achievement Program: Edward Filene (1986), Friedrich Raiffeisen (1990), Roy F. Bergengren (1992), Technology (1999), Alphonse Desjardins (2003), Louise Herring (2003), Dora Maxwell (2003), and Thomas Doig (2011). John also completed the Credit Union Leadership Program and Financial Literacy Program.

After serving as Director of Finance for the Eau Claire Area School District for 27 years, John is enjoying his retirement. This has also allowed him to become even more involved in the credit union industry, which he has a true passion for. During his career, he was honored with the 2001 Wisconsin Association of School Business Officials' Wallace Zastrow Award. John is a graduate of the UW-Eau Claire with a Bachelors Degree in Comprehensive Public Accounting.

John's vision is to expand Royal to new markets and new Members while being the primary financial institution of choice in the communities where Royal has a presence.

John and his wife, Kris, have four children and live in Eau Claire.

Nancy Beltz

Director View Bio

Nancy Beltz

Director

Nancy was elected to Royal Credit Union's Board of Directors in 1999. She currently serves on the Finance Committee. She has also participated on the Web, Technology, and Scholarship Committees and is past Chair of the Audit Committee. Nancy is a Certified Credit Union Volunteer (CCUV).

As a bank examiner for the Federal Deposit Insurance Corporation (FDIC), Nancy examined banks in five states with assets ranging in size from $35 million to $1 billion. Her responsibilities included assessing the overall financial condition, evaluating the effectiveness of management and policies, determining compliance with laws and regulations, and reviewing loan and investment quality.

Nancy and her husband Tony own RAM Technologies, a computer store in Eau Claire, where she is the chief financial officer. Nancy resides in Altoona with her husband and daughters.

Nancy's vision is that Royal Credit Union remains a financially strong institution committed to delivering a wide range of affordable products and services available to all people in the communities it serves.

Bill Blackburn

Director View Bio

Bill Blackburn

Director

Bill has been a Member of Royal Credit Union for over 30 years. He was employed by Royal Credit Union for nine years, the final seven as a business loan officer. Bill made the decision to leave Royal in 2001 to pursue an opportunity to own his own business. He is currently co-owner of L&M Mail Service, Inc. In 2008, L&M was recognized as Small Business of the Year by the Eau Claire Area Chamber of Commerce.

Along with serving as a board member, Bill also serves on Royal's Board Finance Committee and Credit Oversight Committee. Bill received his Bachelor's Degree from UW-Eau Claire, majoring in Finance.

Bill understands the need to pursue new ideas and technologies in order to continue to provide Royal's Members with leading edge products and services. His experience as both a team member of Royal and a business owner give him a unique perspective that will help Royal Credit Union achieve its purpose of creating a positive impact in the lives we touch.

Bill, his wife, Beth, and their two daughters live in Eau Claire.

Royal Credit Union | Stuart Schaefer

Stuart Schaefer

Vice Chairman View Bio
Royal Credit Union | Stuart Schaefer

Stuart Schaefer

Vice Chairman

Stuart has been a Member of Royal Credit Union for over 25 years. He currently serves as Vice Chairman of the Board of Directors and on the Credit Oversight Committee and Compensation/Governance Committee.

Stuart is a graduate of UW-Madison and has been a licensed Real Estate Broker since 1980. He is also a member of the International Council of Shopping Centers. Stuart is currently the President of Eau Claire-based Commonweal Development Corporation, an award winning community focused real estate development company currently engaged in urban renewal, mixed use, retail and office projects including the Confluence project in Downtown Eau Claire.

Stuart has served on various boards throughout his career including the Eau Claire Area Economic Development Corporation, where he acted as its president in 2009. Stuart has four children between the ages of 20 and 28. He has lived in the Eau Claire area for the past 30 years. Stuart’s vision for Royal's future is to maintain and expand the impressive level of service and value Royal Credit Union offers its Members and to continue to positively impact the communities we serve.