Women in Technology: Wayne Westland Federal Credit Union’s Joleen Bowman

In what is a recurring feature, Finopotamus spotlights innovative women who are positively impacting technology applications in the credit union industry, and beyond. For this issue, we visited Wayne Westland Federal Credit Union’s CEO Joleen Bowman.

By W.B. King

Joleen Bowman’s first memories of the “people helping people” movement harkens back to when she was only five years old. Her mother and aunt worked at the local credit union and she and her cousin were keen to emulate them.

“I remember playing ‘teller.’ We would use my grandma’s ‘ancient’ calculator to process transactions using coins and Monopoly money,” Bowman told Finopotamus. “Boy, did we feel accomplished and professional. All of that pretending must’ve struck a chord because both my cousin and I work in the industry today – a childhood dream come true!”

Joleen Bowman

Joining the $148 million Westland, Mich.-based Wayne Westland FCU 16 years ago, Bowman held several positions, including member service supervisor, before being named CEO in 2020.

“There have been many significant differences and changes throughout my career thus far and I anticipate even more. Tech departments are much larger than they previously were, and the requirement for extensive security measures continues to deepen,” she said, adding that the credit union supports more than 11,000 members and one branch.

When I began my career, there were many avenues of our operations that were done manually and that has shifted almost entirely—that belief has experienced a complete 180,” she said. “Tech is trusted across every operation of our industry and that trust continues to grow with the utilization of artificial intelligence (AI).”

Following Mom’s Footsteps

Reflecting on her mother, who recently retired from a 50-plus year career in the credit union industry, she said women have always been an integral part of the movement, but there is room for improvement, including in tech departments.

“For me, it's about the same although I know as an industry, there are more women than ever. I’m very proud of the number of women leading the credit union movement today,” she told Finopotamus. “I grew up knowing and loving credit unions and once you know a credit union, the love part comes easy.”

When asked who her mentor was, Bowman quickly pointed to her mother. “She loved what she did and fiercely excelled, as she did in everything she attempted. She challenged everyone around her to be their best and never expected anything less.”  

Leveraging AI for the Good

Among tech trends on Bowman’s radar is AI, especially as it pertains to loan decisioning. And while she noted that AI is “making itself at home” in many credit unions, she remains cautiously optimistic about inherent benefits.

“Although we're excited to see how it continues to change banking as we know it, it can be difficult to keep up and stay informed on the latest and greatest,” she said, noting that the credit union has 36 staff members, one of whom is tech-facing. “AI loan decisioning has the potential to greatly benefit our membership and staff, and I'm excited to see what we can accomplish as we move into more AI-related services.”

Bowman is always seeking ways to “safely” leverage AI solutions for Wayne Westland FCU’s valued membership, she explained. The goal is to use AI to streamline services and create a more modern way to engage and serve members, she shared, noting that other tech initiatives have recently been undertaken.

“We've also seen transformations within our core processor (MDT/Jack Henry) that add a ton of value both internally and externally. We’ve implemented video chats and meetings with our members, additional remote employment opportunities and increased digital avenues of communicating with each other and our members,” she told Finopotamus. “All of which are changing the way we were taught how to bank and vastly improving our engagement internally and externally.”

The Credit Union Advantage

While Bowman said the value proposition of credit unions cannot be understated, small to mid-size credit unions often struggle to keep up with the fast-paced development of banking technologies.

“Thankfully, we are seeing an increase in product offerings that are more sustainable for smaller community driven credit unions. There’s a real need to keep credit unions in communities across the globe; they support local members and businesses in their neighborhoods unlike any other institution,” she continued. “Making sure they have access to tech that's driving the industry is crucial for credit unions’ survival, but it’s also equally vital for consumers.”

The survival of the industry, she offered, is dependent on credit unions partnering with fintechs that understand the mindset of credit union employees, the members they serve and the shared goals they seek to achieve.

“Smaller credit unions like ours rely on our partnerships for added value, services, and member engagement. For instance, MDT is one of those partners for us, helping drive efficiencies and deliver an excellent service experience to our members,” she said.

“We want to be able to capture the generations to come and develop banking relationships that last a lifetime,” Bowman continued. “That will be nearly impossible in the future without a better way to deliver financial services. The digital age is not around the corner anymore, it's here and here to stay.”