Michelle Purnell-Hepburn
Giving Credit Where Credit is Due
You could say Michelle Purnell- Hepburn has excellent credit history. She has, after all, been employed since the age of five, when her parents, who helped found Sentinel Credit Union and Liberty Bank of Seattle, put her to work stamping credit union brochures. And Purnell-Hepburn, the vice president and chief financial officer of Seattle Metropolitan Credit Union, is quick to give credit — mainly to her faith and strong upbringing by her parents — where credit is due.
“I was blessed to have parents who demonstrated love in such a tangible way,” she says. “My parents taught me I could do anything I put my mind to. They taught me to be my best, to work hard, and that it’s a privilege to learn and further one’s education. Education was a means to be upwardly mobile.”
The path to her current position included stints working in virtually every position at a bank — from her toddler days to those of teller to financial analyst. It’s a journey similarly taken by her parents, who migrated from Tennessee to Seattle in order to establish Seattle’s first African-American bank, Liberty Bank of Seattle, in 1968. Her father, James, served as president of Liberty Bank from 1972 until 1986, while her mother, Mardine, worked as an internal auditor for the IRS. Michelle also learned by example from her sister, 19 years her senior, about the value that an advanced education brings — she also studied business and graduated with a degree in law.
While she believes her graduate coursework prepared her very well for her career path, she says that in the early ’80s, very few African-American women were entering the world of finance, and therefore she was not always encouraged to follow her chosen career path. Luckily, she had people like her sister, who she calls her ‘rock,’ to show her that it was indeed possible to follow one’s dreams.
“Back then, academic advisors saw very few minority women who expressed an interest in graduate business studies. I just loved accounting and finance, and I stuck with what I enjoyed and did well in.”
Thad Spratlen, professor emeritus of marketing at the UW Business School who has known Michelle since her undergraduate days, believes her success has come not only from hard work, but from her family role models.
“She learned well from her father’s entrepreneurial discipline and determination to succeed. She kept on performing despite being told that there was not a place for her in financial management. That made her stronger.”
With familial roots so strong in the financial services industry, it’s no surprise that Purnell-Hepburn has followed in her parents’ footsteps. Not content with earning a master’s degree in business administration, the 48-year-old has continued adding to her academic record. In 1994, she completed Western CUNA Management School, graduating with high honors, and in 2006 she completed the Credit Union Executive Society’s CEO Institute, earning her a Certified Chief Executive designation.
Earning these advanced professional degrees, says Purnell-Hepburn, will give her the preparation she needs to eventually attain her goal of becoming CEO. They have helped her see what it’s like from the top looking down. “I know I will become a CEO — I’m not worried about when. I just know what’s important is to do all the things one can do to be prepared.”
Judging from her office, where the walls display quotes from employees, there’s an abundance of input she routinely seeks from her employees. Their ideas and input have served to create the mission statement for her departments, which support the mission statement of the Credit Union: “Honesty is our pledge, quality is our result, and together we create peace of mind.”
About 14 employees report to Purnell-Hepburn, where she’s in charge of financial statements and the accounts recovery activities that ultimately impact the approximate 37,000 credit union members.
Believing in a bright future ahead, for both herself and future black businessmen and women, she believes in the importance of giving back: she is a regular guest speaker for the UW Association of Black Business Students, for which she served as president during graduate school, and participates in the Business and Economic Development Center’s activities.
“Our parents taught us to never forget where you’ve come from. You don’t get anywhere unless you’ve helped others because you were once helped by others.”