Our Story

Founded in 1948, FMS came to be when a group of Chicago controllers formed the Society of Savings and Loan Controllers, a 501(c) 6 not-for-profit association.  The Society became an affiliate of the United States League of Savings Institutions a few years later and was officially renamed the Financial Managers Society in 1982.

In 1990, after serving savings and loan financial officers exclusively for 42 years, FMS disaffiliated from the United States League and began to serve financial personnel not just from savings and loans, but also from community banks, thrifts and credit unions. 

Today, with a strong emphasis on first-class education and building community, FMS thrives as a professional membership organization with close to 1,600 professional members from community banks, thrifts, credit unions, and vendor partners, from across the country.  

Want to learn more? Follow us on social to stay in the know, or better yet, join our story.

69 Years of FMS



1948 Society of Savings and Loan Controllers Established
Group of controllers from the Chicago-land area form the Society of Savings and Loan Controllers
1949 Society’s 1st Meeting
First annual meeting held as part of the Institute of Financial Education’s annual meeting
1957 Society affiliated with US League of Savings Institutions 
Society incorporated as an affiliate of the United States League of Savings Institutions
1972 Name changed to Financial Managers Society for Savings Institutions
1982 Name changed to Financial Managers Society for Financial Institutions
Society caters to the traditional savings and loan industry
1988 Dick Yingst appointed President & CEO
Formerly FMS’ Director of Professional Development, Dick Yingst takes helm as President & CEO 
1990 Disaffiliation from the US League of Savings Institutions
Driven by a strategic effort to position itself as a provider of finance and accounting education individuals within the  commercial banking and credit union industries
1993 Chapter charter agreement imposed 
Chapter charter agreement drafted and imposed on FMS chapters
1995 FMS gains momentum  
As the “savings and loan” wears off, society gains recognition and credibility amongst commercial bankers 
1996 FMS expands educational offerings
Society moves from as few as 5-7 educational programs to an average of 55 workshops, webinars and annual conference per year
2001 FMS launches its first Webinar Series
2004 The Financial Managers School established
FMS and The Graduate School of Banking partner to establish The Financial Managers School at the University of Wisconsin – Madison 
2014 FMS Connect launched
In an effort to connect FMS members with one another throughout the year, the online, collaborative community, FMS Connect, is launched
2015 Financial Policies Collection launched
The Financial Policies Collection is launched, providing members access to a library of over 200 policies used in actual financial institutions throughout the country
2016 Danielle Holland appointed new President & CEO
FMS announces Danielle Holland as its next President & CEO