From Pig Farming to CEO: Steve Swofford on Growing Alabama Credit Union from $75M to $2B

What does it take to lead a credit union from $75 million to over $2 billion in assets? In this episode of Nest Egg Narratives, we sit down with Steve Swofford, longtime CEO of Alabama Credit Union, to unpack a career shaped by trust, timing, and a few bold decisions.

Steve shares the story of how landing Mercedes-Benz as a partner led to 500 new accounts in a week—and how that success opened doors to serve other major employers like Airbus. We talk leadership philosophy, financial literacy efforts (including a peer-to-peer student program at the University of Alabama), and the value of building real relationships—with staff, boards, and fellow CEOs.

From growing up raising pigs to fund college to leading one of the region’s most respected credit unions, Steve’s story is filled with hard-earned lessons for leaders at any level.

Topics Covered:

• Hiring smart and leading with trust

• The story behind Alabama CU’s Mercedes-Benz win

• Building deep relationships with board members

• Why financial education matters—and how to deliver it

• Mergers, acquisitions, and how to know when to say no

• What makes credit unions unique (and why it still matters)

  
  

Whether you’re a credit union executive, an emerging leader, or curious about how to scale community impact, this conversation is packed with timeless takeaways.

🧠 Key Takeaways

• “Get the right people, give them resources, and get out of their way.”

• Credit unions thrive when leaders prioritize transparency and trust—especially with boards and members.

• Employer relationships can create a flywheel effect—Mercedes opened doors to Airbus and others.

• Investing in financial education—whether it’s students or employees—pays dividends in loyalty and member impact.

• Mergers and bank acquisitions require discipline, due diligence, and emotional intelligence.

• The shared branching network and spirit of cooperation are unique advantages that credit unions must protect.

💬 Memorable Quote

“The person standing in front of you is an owner of this credit union. Treat them like they are.” – Steve Swofford

Nest Egg Narratives is brought to you by Ostrich, where our mission is to ensure the next generation is the most financially secure. We help credit unions connect with younger members through engaging financial literacy tools, programming, and insights. Learn more at GetOstrich.com