Carma Parrish
Carma Parrish is CEO of NorthPark, a $46M and 100% virtual CDFI credit union. In 2018, seeing the declining number of members (most of whom were unprofitable) coming into the branch and underutilized front-line staff, she started the strategy to go virtual and reallocate her team to growth-focused initiatives. One month before closing their second branch, the pandemic hit, and they were able to immediately go 100% virtual. Two years in, they have saved over $150k in operating expenses, lost only 34 (unprofitable) members due to virtual, grew new loan volume by 80%, gone entirely paperless, and are now heavily investing their resources towards advanced technology to serve their LID membership better. More than anything, Carma believes this is the future of banking and is crucial for the survival of credit unions of all sizes, especially her asset peers.
