In March, Heartland Credit Union selected Aaron Rios to serve as its new chief executive, succeeding longtime CEO Tom Lex. Rios brings more than 26 years of leadership experience in the financial services industry to the position, having served in key executive roles at Citigroup, Midland States Bank, QCR Holdings and most recently as chief operating officer at Salt Lake City-based Merrick Bank, where he helped lead an operations transformation.
Rios has overseen operations across branch banking, risk and regulatory relations, back-office efficiency, financial management, digital transformation and people development.
Q: Where were you born and raised, and what was your first job?
A: I was born in Southern California and raised in Iowa. My first job was as a Little League umpire when I was about 12 years old.
Q: How did you get into the banking industry?
A: I studied business in college but really didn’t know what I wanted to do when I got out of school. I thought about doing something in finance or banking or in the sports arena because I played sports in college and enjoyed it. I applied for an opening with Citigroup and was able to get into their branch management training program right out of college, and I’ve been in the industry ever since.
Q: How were you chosen the CEO of Heartland Credit Union?
A: I went through a recruiting process with DDJ Myers, and they did a national search. They reached out to me more than a year ago and asked if I had an interest in a number of CEO positions coming open, including the one at Heartland. I did some research on Heartland and felt it would be an awesome place for me, and the Springfield area would be a great place to call home for my family.
Q: What characteristics do credit unions have that distinguish them from other financial institutions?
A: I feel it’s all about the members and their experience. I think it’s really, really important that credit unions embed themselves and make themselves well-known in the communities they serve. I also feel that as the universe is changing, we must continue to connect with our members during their financial journey to make sure that we’re providing them with the right financial products and resources they need to be successful in their lives.
Aaron and Stacey Rios, center, with daughters Cameran and Adyssen and son Jayden. PHOTO COURTESY AARON RIOS
Q: With the rise in online services, will there always be a need for brick-and-mortar financial institutions?
A: Digital banking has fundamentally changed consumer expectations. Members increasingly want the convenience of managing their finances whenever and wherever they choose. As financial institutions we must continue investing in technology that makes those interactions faster, easier and more accessible. However, I also believe there will always be situations where members value personal relationships and the opportunity to have meaningful, private conversations about important financial decisions.
Q: How do financial institutions determine the interest rates on the loans and accounts they offer?
A: We continually evaluate what’s going on with the global economy, what’s going on with the Federal Reserve, how rates are adjusting and changing, and we use that evaluation to make sure that we’re offering the appropriate services and rates needed by our members.
Q: What are the biggest challenges facing financial institutions today?
A: Fraud continues to be a challenge. We have great practices here at the credit union to help protect and serve our members. I think that artificial intelligence will be a challenge for the industry because everywhere around the world AI is moving forward at a very rapid pace. The economy continues to present challenges. Changes in interest rates, inflation and broader economic conditions can directly affect the financial well-being of the individuals and businesses we serve.
Q: How important is it for a business in your industry to be involved in supporting the community in which it is located?
A: It’s extremely important. We have a great brand in our communities, and our team has done an excellent job of developing relationships and giving back. We have service in 12 counties with a higher member base in Sangamon and Macoupin counties, where we are extremely active in each community. We’re looking at how we can be more active in the additional 10 counties that we service.
Q: What advice can you give to young people who may be considering a career in your industry today?
A: You need something you have a passion for; you have to believe in what you’re doing. Do your research, find a company that excites you, and make an effort to be part of that company’s culture. Also dream about where you want to be 10 to 15 years from now, chase those dreams, and be a part of a company that will help you try to achieve those dreams.
Q: What may people be surprised to learn about you?
A: I was a girls’ high school basketball coach for seven years at St. Anthony School in Effingham, and my wife, Stacey, was on the coaching staff as well. Both of our daughters played through the program: Cameran, who is studying pre-med at Eastern Illinois University, and Adyssen, who is also attending Eastern and plans to major in psychology and business and run her own business someday. Our son, Jayden, is a senior at Upper Iowa University majoring in athletic training and intends to pursue a master’s degree in physical therapy.
This article appears in November SBJ 2026.