Twenty-three years ago, fresh out of Marist College with a business degree, Walden native Derrik Wynkoop applied for a job at his hometown bank, Walden Savings. Dave Cocks, the bank president, gave Wynkoop a shot ”“ and a lot of mentoring in the two years he spent there.
When president/CEO of Walden Federal Savings, Tom Gibney, offered Wynkoop a job as controller, Cocks urged him to take the job. “Rather than being unhappy about me leaving, Dave knew it was a good opportunity.” Wynkoop stayed at Walden Federal for the next 14 years.
What followed next was a move from mutual banking to a credit union. Wynkoop accepted a job at Hudson Valley Federal Credit Union in 2003, where President/CEO Mary Madden taught him every aspect of the credit union business. “Even though I was the Hudson Valley”™s chief financial officer, she wanted to know I could take on any department and be hands on,” ending that chapter of his career as HVFCU”™s vice president of retail marketing.
It was a sad day this past June that would eventually bring Wynkoop back to Walden Saving Bank.
Dave Cocks, Wynkoop”™s first mentor and friend of 23 years, passed away suddenly at the age of 53, leaving a void in the bank he had worked for his entire career.
Wynkoop applied for his dear friend”™s post.
“I was thrilled the board of directors decided to hire me, but I was equally grateful to receive a wonderful note from Dave”™s wife, Janice, wishing me success and saying Dave would have agreed with the choice.”
Wynkoop credited Gibney and Madden for their mentoring and business acumen, which they shared without reserve. “I think this is the ”˜sweet spot”™ for me….just the right size””not too big, not too small.”
Now, Wynkoop”™s first order of business is meeting every one of his new employees face-to-face. In 1988, Walden Savings was a single branch with fewer than 20 employees. “It”™s now grown with many branches. When a big change in leadership occurs, you need to be a face, not an email,” Wynkoop said.
“Dave was Dave, and I”™m Derrik, and I am going to continue his commitment and legacy while sprinkling a bit of my own style; while jettisoning back into mutual banking, I”™m meeting every member of our team. It”™s first on my to-do list,” said Wynkoop on Day 8 of his new position during his interview with HVBiz.
Wynkoop, who also taught business courses as an adjunct professor at Marist and at Mount St. Mary College from 1992 to 2004, had a chance to play mentor to former adviser when Cocks returned to finish his bachelor”™s degree and had Wynkoop as a teacher. “Yes, it was fun and really, we both learned a lot. In the course of those ten years, I must have met at least 2,000 students, many of them who are now working in the industry.”
Back to the daily work of dealing with a deepening recession, Wynkoop”™s goal is to “continue what Dave started ”“ to grow new markets, work with our borrowers during this economic crisis and help them as best we can while maintaining our asset quality.”
One thing his mentors taught him: the most important aspect of his position is the ability to keep the financial institution strong and solid is to “listen to the people you work with. Sometimes, you can”™t see the forest for the trees. A leader with an open mind can always learn, and you have to hear things you may not like but that will help you do a better job. Good employees are any businesses”™ greatest asset.”
