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CU System
CUs a family tradition for one CEO
NAPERVILLE, Ill. (7/17/08)--Credit unions run in Jack Teausant’s family--his grandfather, mother, and sister have all been a part of the credit union he currently operates.
(Left) Sandy Burkart, Financial Plus CU president of marketing; Jack Teausant, Financial Plus CEO; and Marilyn Dudgeon, former manager of Financial Plus. Burkart, Teausant’s sister, was hired at the credit union in 1978. Dudgeon, his mother, was hired in 1951 to handle public relations part-time and later served as a manager. Financial Plus was started by Teausant’s grandfather, Charles Munks, in 1951 as Glass Workers CU. (Photo provided by Financial Plus CU)
Teausant is CEO of Financial Plus CU in Ottawa, Ill. Financial Plus, formerly known as Glass Workers CU, was started in 1951 by 36 members of the Glass, Ceramic and Silica Workers of North America. His grandfather, Charles Munks, was one of those members. Teausant’s mother, Marilyn Dudgeon, was hired as a part-time employee in 1951 to handle public relations. In 1954, she was hired as the credit union’s first full-time employee and manager. Teausant joined the credit union in 1976 as a manager trainee. He previously worked as the comptroller of a local manufacturing company and was asked to help Glass Workers CU merge with another local credit union. Two years later, Teausant’s sister, Sandy Burkart, was hired as a teller. Burkart, who has an art degree and a background in advertising, eventually worked her way up to vice president of marketing--a position she holds today. In 1979, Teausant was promoted to president. Under his leadership, the credit union changed its name to Financial Plus CU. It had $9.915 million in assets and 8,700 members when Teausant started as president and now has $150 million in assets and 19,500 members. Financial Plus CU has been in Teausant’s family for 57 years, but they do not take its success for granted. “We recognized that we have to work as a team,” Teausant said. “The reason why we’ve grown is because of our mission statement: ‘Exceptional Service to Members.’”


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