Synergy CEO, Glenn Stang, second from right, will retire on Dec. 31 and go RVing with his wife, Jeannie. Stang, who is just 60 years old, is pictured in a clean-up project downtown a few years ago as part of his extensive volunteerism. Supplied Photo
The timing was right for Synergy Credit Union CEO Glenn Stang to announce his retirement in advance of major changes on the horizon to the financial services industry in Canada.
Stang will retire this year on Dec. 31 as Synergy’s top executive, a post he’s held since 2013.
“As we wish Glenn all the best in his retirement, we will be working to find a new leader to carry on his good work and continue to build Synergy as your financial wellness provider,” said Synergy’s board in a statement last Thursday.
Stang says he just doesn’t have enough time on his hands to see the credit union fully adapt to open banking being introduced by the federal government this year.
“It will change how we do business with our members and how we serve our communities,” he said.
Open banking is a framework that will allow consumers to share their financial data with financial technology companies of their choice.
“Whenever you have a change, you want to make sure that leadership will stick around to help staff navigate through that change,” said Stang.
“Usually, that time frame for a cultural change is three to five years, and I don’t have a three-to-five-year window at my age anymore.”
The 60-year-old, who is in good health, plans to do some RV travelling with his wife, Jeannie, next year.
“We plan to travel Canada and see the U.S. in different ways than we’ve been able to in the past,” he said.
“With a role like mine, you’re very busy. You don’t always take the time that you want to slow things down and do those things.”
Stang also plans to continue his business coaching and mentoring activities.
“I do a bit of that on the side through the credit union system. I have a number of business clients that I work with from Manitoba west to B.C.,” said Stang.
He will also have his hands full supporting eight active grandkids raised by his three married adult children who all live in Lloyd.
Stang grew up in Macklin, Sask. and has worked at Synergy, formerly Lloydminster Credit Union, for the past 27 years in a career spanning 43 years in the co-operative banking system.
His first job was as a teller in Luseland, Sask., intended as a summer job, as Stang had aspirations to attend university and get a law degree, but his boss changed his mind.
“My first general manager saw something in me maybe I didn’t see in myself back then and encouraged me to get involved in a management training program,” said Stang.
“As I started to work more within the system and they started to coach me and guide me in different ways, what I realized is the values of the co-operative sector really aligned with my own values of investing and being active in the communities where you live.”
“Because of that, I never had a reason to go elsewhere.”
Stang says he’s been on a continuous learning journey since his first day on the job.
Even recently he completed an Indigenous studies program through the University of Calgary.
“I’m pretty proud of that,” he said.
Among his many business highlights is the construction of Synergy’s head office in Lloydminster.
“I was the chief operating officer at the time this building was designed. I was working with a local Realtor putting the land together for this development,” explained Stang.
One of his personal achievements was working with a former Kinsmen buddy to bring business leaders together to present a business case to the city to build the Service Sports Centre.
“They did and they turned it over to a fundraising group and my job was done,” said Stang.
He says he has “little tentacles” all over when it comes to volunteerism and community building.
Stang was a Kinsmen for 25 years, coached hockey for 17 years and was a member of the board that launched KidSport in the community.
“My roots in volunteerism and in the community run deep,” said Stang.
Synergy’s board said Stang reflects Synergy’s values in the community as a dedicated volunteer, giving generously of his time and talents to many local organizations.
“He promotes volunteerism throughout the organization to build stronger communities while at the same time encouraging a sense of purpose in the workplace,” said the board.
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