One of Britton’s long-trusted financial institutions is in the midst of a significant ‘changing of the guard.’ Norstar Federal Credit Union has hired their next President/CEO as Jane Duerre, who has held that position to this point, official retires this week. Jay Kruse is taking over the helm of the ship.
Duerre has led Norstar since 2010 when returned to her home state from Arizona where she lived more than 25 years. Norstar FCU was founded in 1942 as a community credit union and serves those in Marshall, Day, or Eastern Brown Counties plus parts of North Dakota.
Since Duerre took the reins thirteen years ago, she has helped Norstar grow and prosper. When Duerre came to work there, the credit union had about $30 million in assets. Now they exceed $68 million and have nearly 2,800 members. She also helped the institution more than double in loans granted to around $30 million.
Duerre has seen many changes during her tenure at Norstar. In fall of 2019, they moved to their new building, just before COVID hit. Under Duerre’s guidance, Norstar more than weathered the storm during the pandemic and thrived. “It was actually gangbusters for us during that time,” said Duerre. “The new building with the drive up couldn’t have come at a better time.”
They became certified to administer PPP loans during that time. Duerre remembers signing paperwork in the parking lot for over 200 loans. She is also proud that money made from the PPP loan work was given back to members and the community.
Duerre says she will most miss her coworkers and all the friends she has made in the credit union world as she retires. “I have met so many other CEOs, volunteers and people in the credit union industry that I consider dear friends.”
As she moves on to new adventures, Duerre says she will spend more time enjoying the outdoors, boating and hiking. She and her husband Kent also have a home in Arizona where they look forward to spending winters.
Duerre says that although retiring is bittersweet, she feels confident that the man taking over her seat, Jay Kruse, will be perfect for the job. “I was very happy when I saw that Jay had applied for the job,” said Duerre. He was hired in April.
Kruse was born and raised in DeSmet. He received his Bachelor of Science in Professional Accountancy and Bachelor of Business Administration in Finance from Dakota State University, Madison, South Dakota, graduating with honors. He also holds a Certified Credit Union Compliance Expert (CUCE) designation from the Credit Union National Association and a Certified Business Lender designation from Community Business Lenders.
Kruse has extensive professional experience in the credit union industry, most recently as Chief Advocacy Officer at the Dakota Credit Union Association’s Sioux Falls office for the past eight years. During his tenure there, he assisted nearly 60 unique credit unions across both North and South Dakota with their state and federal advocacy efforts to improve the operating environment for credit unions on the local, state, and national levels.
Kruse has been at Norstar for a month now training with Duerre. He says he is already getting comfortable and enjoying the position. “So far, everything has been awesome. It’s going better than I imagined,” said Kruse.
He credits Duerre with laying a strong foundation for the financial institution. “Jane was a rockstar and has made it easy to pick up where she left off,” said Kruse. “She has built an amazing base here with a great staff and community support.”
Kruse is excited to be back living in a small town. He and his wife Teri and their three dogs are working on getting settled and enjoying Britton so far. When he’s not at Norstar, Kruse said he looks forward to golfing and enjoying the outdoors in northeastern South Dakota.
The new CEO invites current and potential new members to stop in and say hi when they come into Norstar.
For the outgoing CEO’s part, Duerre says she was initially nervous about retiring but is now growing into the idea. Kruse’s presence has put her mind at ease. She emphasized, “I can now go home at night and sleep knowing Norstar has someone great leading the way.”
