Keys to Creating Value Beyond the CD Rate

Tom Novak, Vice President, Chief Deposit & Payments Officer at Visions Federal Credit Union, discusses strategies to build deposits, expand members and create value beyond the CD rate.

Thomas P. Novak is an executive leader responsible for deposit and payments transformation at Visions Federal Credit Union, a $5.6 billion financial institution headquartered in upstate New York. He is directly responsible for the deposit strategy, payments strategy, and innovation that drives the entire value chain of deposit and payments experiences and growth at the credit union. A recent recipient of American Banker’s 2023 Innovators of the Year Award, Thomas has worked in the financial services industry for over 17 years with a focus on product innovation, sales tactics, digital analytics, voice of the customer, content management, personalization, vendor management, and strategic planning.