In the 21 years since Roger Ballard became chief executive of Nuvision Credit Union, he’s tremendously expanded the Huntington Beach credit union that’s in an industry typically considered sleepy.
Ballard has grown the assets from $665 million to $3.9 billion. Membership has risen from 52,000 to 215,000. He’s made 13 acquisitions, most recently expanding in San Diego and Northern California. He now oversees 36 branches in five western states.
And he’s not done yet, pointing out that smaller credit unions have a difficult time meeting new regulatory and technological demands.
“We believe there’s going to be more credit unions who choose to seek out a partner—we want to be a choice,” Ballard told the Business Journal.
“There are still a number of credit unions under $500 million in assets that are interested in finding a partner. We’re going to focus on primarily the markets we’re already in in terms of our mergers and acquisitions opportunity.”
Based on assets, Nuvision ranks No. 2 on the Business Journal’s annual list of credit unions based in Orange County, following SchoolsFirst Federal Credit Union in Tustin.
During an interview with the Business Journal at the credit union’s headquarters near Bella Terra Shopping Center, Ballard discussed the banking competition, artificial intelligence, fraud and why he relates to former Intel CEO Andy Grove.
“Our credit union is doing very well,” Ballard said. “We’re having a very positive 2025, which is particularly exciting given it’s also our 90th anniversary.”
Expansion Plans
Nuvision dates to 1935, when it was founded as the Douglas Aircraft Company Federal Credit Union and grew along with Southern California’s aviation industry.
Aviation’s decline also shrank the credit union’s membership, which fell by about 15,000 over a three-year span to 51,832 in 2007. In 2002, the credit union changed its name to Nuvision, and in 2004, Ballard, who was the CEO at Community Financial Credit Union in Plymouth, Michigan, was hired.
After the 2008 financial crisis, Ballard began boosting membership through acquisitions and expansion into other industries. Its members nowadays come from sectors like housing, engineering, automotive and healthcare.
Nuvision’s annual report says it made a significant milestone by expanding into the San Francisco Bay Area with the acquisitions of Cooperative Center Federal Credit Union and SafeAmerica Credit Union. Last year, it acquired Paradise Valley Federal Credit Union that added two new San Diego branches.
By metrics important to the credit union industry, Nuvision is on solid ground. Its key capitalization ratio is over 11%, far above the required 7%, Ballard said.
“I know the strength of having what I call rainy day fund,” he said. “You’ve got to be ready for some curve balls.”
While net income fell 59% to $10 million in 2024 as interest rates rose, it has already shown a rebound by growing it to $14.5 million for the six-month period ended June 30.
Ballard said the credit union strives to boost its net income even though it’s a nonprofit.
“Our primary source of capital is earnings, so we really want to grow.”
Nuvision’s biggest business is mortgages, followed by loans for used and new cars. It’s also interested in expanding its small business loans, particularly for commercial real estate.
Besides the typical industry metrics like yield curve, capital ratios and net interest margins, Ballard pays close attention to member experience ratings.
“How well are we providing experience? How well are we serving our members? That is the top focus for us.”
It’s investing in technology, particularly artificial intelligence which “has a lot of promise.” For example, Nuvision daily receives thousands of calls, including many just asking for its routing number. Its AI system, powered by Zest AI, can provide that information, he said.
“It’s not necessarily just one silver bullet. It’s more about hundreds of small incremental improvements that cumulatively improve the experience. My viewpoint is all of these are going to get better. We’re just at the beginning.”
He is concerned about fraud, which he says is “a growing trend.” Its website has several blog posts on how to avoid scams like “Can I borrow your phone?”
“We see the attempts growing and across the industry and we keep working to educate our members. This stuff looks real. There are very sophisticated attempts. The bad actors are using AI too. It angers me to see these fraudsters take advantage of people.”
Member Goals
While about 30% of new deposit accounts are opened online without the person coming into the branch, Ballard said there is still room for branches, noting that they can offer services like issuing a debit card on the spot or advising on which loans to take out.
“We’re not just about selling products,” Ballard said. “I’d be upset if any of our team sold a product that wasn’t right for the member. It really is having a conversation. What kind of goals does the member have?
“We want to make sure we can allow our members to do business with us whenever and however they want to.”
Nuvision is competing not just against banks but also emerging financial tech companies that are offering similar services. He relates to Grove’s famous book, “Only the Paranoid Survive.”
“There’s a little bit of that in me,” he said. “As a CEO, I’m always uncomfortable. We have to keep working to earn the business for the members we already have, and we’ve got to keep working to get better, to be worthy of getting new member relationships, earning that new business.
“I still believe the credit union industry is the consumer’s best friend. We’re not just about for the money. We certainly have to make a business be viable, but we are really out to help the consumers. And I think that’s just a different mindset. I have a lot of confidence and optimism for the credit union industry.”
He’s proud that his credit union has numerous community events such as honoring veterans and teaching financial literacy to high school students and has been certified as a great place to work. Ballard says that even after 21 years as CEO, he intends to stay.
“I’m looking forward to helping Nuvision grow and get to that 100th anniversary. That is my hope.”
