How did you get into the credit union field?

I was an examiner for the National Credit Union Administration and later accepted the controller position at F&A Credit Union.

Did you ever want to get into traditional commercial banking?

I never contemplated going to work for a commercial bank. It was a natural move for me to go from the NCUA to work for a credit union. I have never regretted it.

What’s the best aspect of being a credit union officer as opposed to a commercial banker?

It is gratifying to answer directly to our members-owners. Bankers suffer the eternal dilemma of having to satisfy both their stockholders and their customers, two groups with nearly diametrically opposed interests.

The worst?

Excessive regulations. Credit unions have consistently done right by their members-owners for generations. That is not to say that some credit union people never went rogue. But we are transparent and try to maximize overall values for our members, so it’s usually difficult to swallow all the regulating. Nonetheless, having gotten my start in our industry as a federal examiner myself, I understand the need for it. It just doesn’t have to mean I necessarily like it.

What has been the biggest change in the field during the past five years?

The recessionary economy. In particular, the super-low-rate environment has squeezed net spreads to the point where we, like most all banks and credit unions, have to rely heavily on noninterest income to keep our financial reserves up at an appropriate level. Further, real estate loan charge-offs, both residential and commercial, have been quite painful to absorb. And we are not done absorbing yet.

What was the worst day in your career?

When I found out that my predecessor had a stroke.

What was the best day?

When the credit union board supported me after I made a bad decision on a contract that went awry.

What’s the best advice you’ve ever received?

My predecessor told me that I did not get paid for the easy days.

MARK HERTER, 60

Chief Executive

Farmers Insurance Group Federal Credit Union, Los Angeles

YEARS IN POSITION: 16

RESIDENCE: Glendora

FAMILY: Married to Margo; they have two adult children and two grandchildren.

ACTIVITIES: Working out, reading books on history, and “the care and feeding” of his music collection.