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Jim Bounds Retires after 40 Years with the CU Movement
Wednesday, May 4, 2016 6:50 AM

Jim Bounds' credit union career began in 1975 with CUNA Mutual when he was a representative for 135 credit unions in Nebraska. However, he says it really started when he obtained his first auto loan from a credit union in 1959. 

In 1980, he accepted a position as president with Omaha Federal Credit Union. One of the major decisions a credit union leader could make during those days was whether to continue with a “checking account product.” All accounting was entered on ledger cards and hand calculated. But growth was Bounds' objective so he recommended to the board that the credit union pay members $.05 per written check. That paid off big time. Under Bounds' leadership, the credit union grew from $5 million in assets to $11 million—in just five years. 

Bounds served on the Nebraska Credit Union League Board for two years while he served as president of Omaha FCU. Then in 1985, he went to work for CUSA, which was an in-house core software system. In one year, Bounds assisted with 24 core conversions. In 1987, Bounds accepted a position of SVP of operations at Strategic Air Command (SAC) Federal Credit Union. He was in charge of the call center, deposits, and data processing. 

Then in 1994, Bounds moved to Texas to become president at First Community Credit Union in Portland, Texas. He attended his first Texas Credit Union League Annual Meeting the same year that Dick Ensweiler started with the League. In 2008, First Community (then known as Horizon Federal Credit Union) merged with Security Service FCU of San Antonio, where Bounds was employed for five years. 

In 2013, he joined Coastal Community and Teachers Credit Union as VP of operations.

"Jim brought an expertise to our organization that was needed," said Gina Prince, CEO of Coastal Community and Teachers Credit Union. "Jim also served on a number of local boards including the Workforce Solutions Board, Hispanic Chamber Board, and Westside Business Association Board, and he was a supporter of the Hispanic Women’s Network of Texas, and his wisdom will be missed." 

On getting ready for his retirement, Bounds said he was concerned about regulations, but otherwise his outlook is positive. “I feel good about credit unions going into the future," Bounds said. 

Jim and Leanne, his wife of more than 50 years, will reside in Tennessee.