Chief Economist Mike Schenk to retire

Mike Schenk

​America’s Credit Unions Chief Economist/Vice President of Research and Policy Analysis Mike Schenk announced he will retire after more than 35 years in the financial services industry, effective April 1. As part of the credit union movement since 1992, Schenk is a renowned expert on the credit union difference and its public policy impacts.

"After over three decades dedicating to strength in the credit union movement – our friend and colleague Mike Schenk is retiring, leaving behind an extraordinary legacy of leadership, insight, and advocacy,” said America’s Credit Unions President/CEO Jim Nussle. “Mike’s expertise has shaped industry policy, supported credit union growth, and provided invaluable analysis to both trade and mainstream financial media. His commitment to cooperative finance and consumer well-being has made a lasting impact, and his contributions to organizations throughout our industry will continue to benefit the industry for years to come. We thank Mike for his dedication and wish him the very best in this well-earned next chapter."

“Mike Schenk has been a stalwart in the credit union space for over three decades and his economic expertise has been instrumental in our advocacy efforts for the industry and policymakers,” said America’s Credit Unions Chief Advocacy Officer Carrie Hunt. “Mike built a solid foundation for our research team through our transformation to America’s Credit Unions while providing credit unions essential data to make key decisions for their members. He will be sorely missed as a full-time team member but his legacy of thorough data, exceptional analysis, and sense of humor will carry on. We wish him nothing but the best.”

“Throughout my career in cooperative finance, I've worked with countless caring, passionate, and truly inspirational individuals, who are keenly focused on the simple - but radical - idea of putting people before profits. You've transformed millions of lives and, quite literally, saved many as well. I'm forever grateful to everyone who helped me play a small role in advancing this critically important work,” Schenk said. “I'll never forget your kindness, advice, and unwavering support as I embark on this next chapter.”

Most recently, he has led the organization’s strategy to acquire a massive dataset to refine credit union impact data, using it to dive deeper into the financial outcomes of credit union members vs. non-members. His research has highlighted the dollars and cents of the credit union difference in real products such as auto loans and mortgages, and shown that this difference is even more pronounced in lower credit score borrowers, essential data for credit unions to use with policymakers.

Schenk’s analyses regularly appear in credit union trade publications and mainstream financial media. He serves on the board of the Filene Research Institute and of Summit Credit Union in Madison, Wis., where he has served as board chair, in addition to chairing the credit union’s Asset-Liability Management and Risk Management/Internal Audit Committees during his 20 years on the board. 

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