IBJNews

2013 CFO OF THE YEAR: Todd Habig

Back to TopCommentsE-mailPrintBookmark and Share

HONOREE, Not-for-Profit

“Indiana Members Credit Union was a client,” said Todd Habig who worked as an accountant at Geo. S. Olive & Co. “I knew it was a great group from auditing them.”

That was 27 years ago. What was a credit union with 35,000 members became one with 111,000 members. Eight branches became 24. And $107 million in assets turned into $1.4 billion. The billion line was crossed in 2008.

habig-todd-15col.jpg (IBJ Photo/Eric Learned)

Age: 52

Family: wife, Lara; sons Daniel, 20, and Tyler, 18

Hometown: Avon, Ind.

Education: bachelor’s, Butler University College of Business Administration

Civic involvement: volunteer with BackPack Attack through Indiana Members Foundation, active at Crossroads Church of Avon, chaperone for Avon High School Marching Band on its trip to 2012 Rose Bowl

Hobbies: basketball, golf, travel

Habig, now CFO and senior vice president, helped create IMCU’s branch accounting system in 1986 and has been involved in 31 mergers.

“That sounds like a lot,” said Habig modestly, “but most were small. And in every case but one, we were approached.”

While it’s up to the CEO to show the merging credit union all that IMCU has to offer, it’s Habig’s job to make sure the two computer systems align and the members of the merging credit unions are happy, and to take care of all notifications.

“I’m the detail-oriented guy,” he said. “I lead the merger process after the paperwork is signed.”

His strategy is to think for the future more than today.

“Rates in the marketplace have been at historic lows for quite an extended period of time and there’s only one way that they can go. We just don’t know when it’s going to happen. We made sure, though, that we are ready for when they do.

“To do that, you have to sacrifice the current earnings a little bit, but we have chosen to make those sacrifices for when the rates do go up. It takes discipline and patience, and I give big credit to our board for their leadership in that regard.”

Again, modest.

Two of the most important measurements for a financial institution are its net worth ratio and its return on assets.

“Our net worth ratio has been so consistent even through the tough, tough recession,” he said. “We have a reputation for being stable and solid. That makes me really happy and outsiders are very impressed with that.

“I always say, ‘Keep it simple’ and we’ve always done that with investments. We do things that we understand. So we haven’t had any of the big fluctuations.”

If all of this leads one to believe Habig is some dry accountant, well, you just haven’t seen him at a retirement party.

“Some people say I’m like Jekyll and Hyde,” he said. “I want to prove my worth to the organization every day. That’s just the way I’m wired. But when somebody retires, I’m the guy writing the parody songs. And since nobody will sing my songs, I have to. I don’t hesitate to embarrass myself. I can be open for that craziness … with zero alcohol involved.”•
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Angela IS the best RD

  2. We are a nation of speed. All of our younger lives are filled with deadlines, quotas and bottom lines. We start to ease out of the pressured rat-race when we finally see "retirement." The most enjoyable travel on the planet is passenger rail service. Indy to Chicago does not beat Megabus or Southwest Airlines in speed. Passenger rail however has the best seating, mammoth legroon, seat backs that recline to more than 45 degrees and employers that really want you to return as a customer. Indiana municipalities need to maintain subsidies to support this transportation mode. Losing it is loss for all of us.

  3. Good day! I just want to testify how i got my loan from Mr. Eric Lefkofsky after i applied several times from various loan lenders who claimed to also testify right in this forum,i thought the testimonies where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan. Until a friend of mine introduce me to this popular Mr. Eric Lefkofsky who promised to help me and indeed he did as he promised without any form of delay. I never thought there are still reliable loan lenders until i met Mr. Eric lefkofsky who indeed helped me with the loan and changed my belief. I promised to share this testimony after I got my loan. I don't know if you are in any way in need of a genuine and urgent loan,free feel to contact Mr. Eric Lefkofsky via their email{grouponfunding@hotmail.com}

  4. Its a THUG issue. Bleecker Street and NYX are thug bars. They attract thugs of all races. Places that attract thugs need to be kicked out of Broad Ripple. Ain't nobody got time for that!

  5. Hello everyone, My name is Marian Gareth, I am from the Texas, United State, am here to testify of how i got my loan from Mr Andre Frank {frankloancompany@yahoo.com} after i applied Two times from various loan lenders who claimed to be lenders right in this forum,i thought their lending where real and i applied but they never gave me loan. I was in need of an urgent loan to start a business and i applied from various loan lenders who promised to help but they never gave me the loan.Until a friend of mine introduce me to Mr Andre Frank the C.E.O of Andre Frank Loan Company who promised to help me with a loan of my desire and he really did as he promised without any form of delay, I never thought there are still reliable loan lenders until i met Mr Andre Frank, who really help me with my loan and changed my lief for better. I don't know if you are in need of an urgent loan, free feel to contact Mr Andre Frank on his email{ Frankloancompany@yahoo.com} for help

ADVERTISEMENT