General Overview

The Manager of Deposit Products is responsible for the development, management, and ongoing optimization of the credit union’s consumer and business deposit product portfolio. This role oversees existing deposit products, supports rate changes and pricing recommendations, and leads the evaluation and launch of new and innovative deposit offerings that support member growth, retention, and financial performance.

The Manager of Deposit Products partners closely with Marketing, Member Services, Accounting, Operations, Business Banking, and all of Branch leadership to ensure deposit products are competitive, member-focused, operationally sound, and aligned with enterprise goals. The position reports to VP of Member Services.

Duties and Responsibilities

• Manage the credit union’s consumer and business deposit product portfolio
• Oversee product strategy for checking, savings, money market, CDs, and related deposit offerings
• Recommend and coordinate rate changes in partnership with Treasury/Finance and other stakeholders
• Identify opportunities to enhance deposit product competitiveness, adoption, and retention
• Evaluate market trends, member needs, competitor offerings, and emerging financial products
• Lead the development and launch of new deposit products, including rewards checking and other innovative offerings
• Explore and support emerging product opportunities, such as stablecoin or other digital deposit-related solutions, where appropriate and compliant
• Partner with Business Banking to support business deposit product strategy and growth
• Collaborate with Marketing on product positioning, promotions, and member communication
• Work with Digital, Operations, and Member Experience teams to improve account opening, onboarding, servicing, and overall product experience
• Monitor product performance, profitability, adoption, and lifecycle trends
• Ensure all deposit products and changes align with regulatory requirements, operational capabilities, and organizational priorities

Success Measures

• Growth in deposit balances and account adoption
• Improved retention and product engagement
• Successful launch of new deposit products and enhancements
• Competitive and well-managed rate changes
• Strong partnership with Marketing, Treasury, Business Banking, Digital, and Member Experience
• Improved product profitability and member value

Core Skills and Competencies

• Deposit product management
• Consumer and business banking knowledge
• Pricing and rate change coordination
• Strategic thinking and product lifecycle management
• Data analysis and competitive assessment
• Cross-functional collaboration
• Member-centric product development
• Financial acumen
• Communication and stakeholder management
• Innovation and emerging product evaluation

Qualifications

• Bachelor’s degree in business, finance, marketing, or related field, or, 7+ years of experience in banking, credit union operations, product management, deposit products, or related financial services roles.
• Experience managing or supporting deposit products and pricing changes
• Strong understanding of consumer and business deposit products
• Ability to work across departments and influence without direct authority
• Experience using data and market analysis to inform product decisions

Preferred Qualifications

• Experience in a credit union or community financial institution
• Background in deposit product management, retail banking, treasury, or member growth strategy
• Experience leading product launches or rate adjustments
• Familiarity with digital account opening, account servicing, and omnichannel deposit growth
• Exposure to innovation initiatives or emerging financial product development