Page 16 - BusinessWest December 12, 2022
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 UMassFive has developed a strong niche in the financing of solar-installation projects.
 Westfield are among the areas at or near the top of a list of potential landing spots — to continued growth of an already dynamic niche in lending
for solar-energy installations; from the building
of a new and more highly visible branch in Had- ley and consolidation of other facilities into the headquarters building in that town to the possible creation of an insurance agency to be operated by the credit union.
“What we learned during COVID is that we don’t need to have everyone on-site. Other than our retail staff, we probably have
80% of employees on some type of telecommuting status, either hybrid or fully remote.”
In a wide-ranging interview, Kump, a 20-year veteran at UMassFive who took the helm in 2019, touched on these and many other points. Overall, he said the institution, which now boasts more than $625 million in assets, is in what he called a controlled growth mode, anxious to take advan- tage of opportunities that have arisen in recent years, including ongoing consolidation in the banking industry, advancing digital technology, and changing needs among customers — on both the consumer and commercial sides of the ledger.
Such opportunities enabled UMassFive to essentially triple
the projected profits for what was expected to be a lackluster 2022, he explained, and these same forces, in addition to those aforementioned goals for expansion, are providing reasons for optimism as the calendar turns to 2023.
Developing a Game Plan
Kump, who grew up in New York, has been a lifelong, and extremely avid, Yankees fan.
The wall across from the desk in his office tells the story.
There, one will find a framed pic-
ture of Bucky Dent’s famous (infa-
mous to Red Sox fans) home run in
that one-game playoff back in 1978.
It’s signed by both Dent and the Red
Sox pitcher who threw the pitch,
Mike Torrez, and Kump notes with regret that the signatures are fading.
As is the autograph of Don Larsen on a framed photo from his historic perfect game in the 1956 World Series against the Brooklyn Dodgers that sits just below the Dent picture. There’s other Yan- kee memorabilia on his wall, including a group of perhaps the four greatest players from that fran- chise — Babe Ruth, Lou Gehrig, Joe DiMaggio, and Mickey Mantle.
While the Yankees have always been a pas- sion for Kump, or a “great failing,” as he called it, credit unions have essentially been his career. Prior to arriving at UMassFive, he worked at St. Mary’s Bank in Manchester, N.H. — founded in
1909, before such institutions were called credit unions — and, later, Cathedral Credit Union in Manchester.
With that background, he’s well-versed in what credit unions have been historically, and what has long differentiated them from banks, especially the larger ones — a high-touch operating philoso- phy and a strong focus on customer service.
These days, though, Kump is more focused on what credit unions can be — and must be — to continue to thrive and grow in a changing finan- cial-services landscape.
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