The day begins early for Jerald J. “Jerry” Lyphout. The East Moline man is up by 4:10 a.m. He is working out at the Two Rivers YMCA by 5 a.m. He is at work by 8:30 a.m. for a day of meetings. Those early morning workouts are vital because it’s important for him to keep […]
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The day begins early for Jerald J. “Jerry” Lyphout.
The East Moline man is up by 4:10 a.m. He is working out at the Two Rivers YMCA by 5 a.m. He is at work by 8:30 a.m. for a day of meetings.
Those early morning workouts are vital because it’s important for him to keep in shape – physically and mentally – with his new job at Modern Woodmen of America. In January, Mr. Lyphout became the 12th president and CEO of the Rock Island-based fraternal financial services organization.
Even though he’s the new leader of Modern Woodmen, he’s not new to the organization. In fact, Mr. Lyphout has worked up its ranks for 40 years.
“Jerry brings experience, integrity and commitment to the position,” W. Kenny Massey, the former president and CEO of Modern Woodmen, said last year in announcing his own retirement and Mr. Lyphout’s promotion to head of the organization. “As the senior manager of Modern Woodmen’s operations, he understands the details and the big picture. His work ethic, intelligence and generous spirit will help him lead our employees and field representatives as they continue to improve the quality of life for our members and in their communities,” Mr. Massey added.
The new Modern Woodmen president and CEO sat down recently with the QCBJ and discussed his opening weeks on the new job, plans for the future and the road he traveled to Modern Woodmen.
His road to Modern Woodmen likely began during his childhood years when his parents greatly influenced his work ethic. His father, Jordan, was a firefighter and owner/operator of Lyphout’s Hardware store in Moline from 1958 to 1971. His mother, Elsie, and his siblings also worked in the hardware store.
“My dad always worked two jobs. … Both of my parents were extremely hard workers. I think I got my work ethic from them. … My father told me to take care of others, take care of other people,” he said.
That road continued in the early 1980s when he was a student at St. Ambrose in Davenport, where he studied business administration. Friends told him that once he got out of school, they could line up a job for him at Deere & Co. But that didn’t work out.
“I was told ‘When you graduate, we’ll get you into John Deere.’ … In 1983, those gentlemen couldn’t get their own children in Deere at the time because of the recession in early 1980s in the region,” he said.
But he soon learned that Modern Woodmen was hiring. He was hired and started a job with the group in June 1983. His initial plans were to work for Modern Woodmen for perhaps five years and move on to a bigger city, perhaps Chicago.
Those plans also changed.
“I got in here and I loved the people. I loved what the organization stood for. ... I found a place where I could use my financial skills and pursue my passion in the financial world, plus give back to the community,” he added.
Now, almost 40 years later, Mr. Lyphout is in a position to take those passions and make them goals and plans for the future of the organization. Some of his goals include:
Growth: Topping the list is growth. Mr. Lyphout said the organization now has about 730,000 members. There was a time – around the 1920s – when it topped 1 million members. He would like to see Modern Woodmen get back to that million mark. Part of growth also means expanding the financial products line offered to its members, he added.
Changes: The public probably won’t notice any major changes in the organization. But the new leader said there may be some internal changes in the organization’s reporting structure. Mr. Lyphout said he has inherited a very strong team at Modern Woodmen and has the right people in the right positions. (When Mr. Massey was a featured speaker at the Quad Cities Regional Business Journal’s 90 Ideas in 90 Minutes in 2022, one of his top ideas was: “You are only as good as the people you surround yourself with.”)
The future: Many of the plans for the future center on growing the organization. Mr. Lyphout said one of his key goals is to always be looking down the road to four or five years in the future of the organization. As for his own future, he said retirement is not in the near future, but it will come – in perhaps four or five years, the 61-year-old said. “They treated me well here … If I had to do it again, I would.”
Even though he’s the new leader of Modern Woodmen, he’s not new to the organization. In fact, Mr. Lyphout has worked up its ranks for 40 years.
“Jerry brings experience, integrity and commitment to the position,” W. Kenny Massey, the former president and CEO of Modern Woodmen, said last year in announcing his own retirement and Mr. Lyphout’s promotion to head of the organization. “As the senior manager of Modern Woodmen’s operations, he understands the details and the big picture. His work ethic, intelligence and generous spirit will help him lead our employees and field representatives as they continue to improve the quality of life for our members and in their communities,” Mr. Massey added.
The new Modern Woodmen president and CEO sat down recently with the QCBJ and discussed his opening weeks on the new job, plans for the future and the road he traveled to Modern Woodmen.
His road to Modern Woodmen likely began during his childhood years when his parents greatly influenced his work ethic. His father, Jordan, was a firefighter and owner/operator of Lyphout’s Hardware store in Moline from 1958 to 1971. His mother, Elsie, and his siblings also worked in the hardware store.
“My dad always worked two jobs. … Both of my parents were extremely hard workers. I think I got my work ethic from them. … My father told me to take care of others, take care of other people,” he said.
That road continued in the early 1980s when he was a student at St. Ambrose in Davenport, where he studied business administration. Friends told him that once he got out of school, they could line up a job for him at Deere & Co. But that didn’t work out.
“I was told ‘When you graduate, we’ll get you into John Deere.’ … In 1983, those gentlemen couldn’t get their own children in Deere at the time because of the recession in early 1980s in the region,” he said.
But he soon learned that Modern Woodmen was hiring. He was hired and started a job with the group in June 1983. His initial plans were to work for Modern Woodmen for perhaps five years and move on to a bigger city, perhaps Chicago.
Those plans also changed.
“I got in here and I loved the people. I loved what the organization stood for. ... I found a place where I could use my financial skills and pursue my passion in the financial world, plus give back to the community,” he added.
Now, almost 40 years later, Mr. Lyphout is in a position to take those passions and make them goals and plans for the future of the organization. Some of his goals include:
Growth: Topping the list is growth. Mr. Lyphout said the organization now has about 730,000 members. There was a time – around the 1920s – when it topped 1 million members. He would like to see Modern Woodmen get back to that million mark. Part of growth also means expanding the financial products line offered to its members, he added.
Changes: The public probably won’t notice any major changes in the organization. But the new leader said there may be some internal changes in the organization’s reporting structure. Mr. Lyphout said he has inherited a very strong team at Modern Woodmen and has the right people in the right positions. (When Mr. Massey was a featured speaker at the Quad Cities Regional Business Journal’s 90 Ideas in 90 Minutes in 2022, one of his top ideas was: “You are only as good as the people you surround yourself with.”)
The future: Many of the plans for the future center on growing the organization. Mr. Lyphout said one of his key goals is to always be looking down the road to four or five years in the future of the organization. As for his own future, he said retirement is not in the near future, but it will come – in perhaps four or five years, the 61-year-old said. “They treated me well here … If I had to do it again, I would.”
AT A GLANCE: JERALD J. ‘JERRY’ LYPHOUT
- CAREER: Currently the president and CEO of Modern Woodmen of America, he has served as a member of its board of directors since March 2014. He began his career with Modern Woodmen in June 1983. He was promoted to systems supervisor in the Issue Department in 1985; became manager of the Qualified Plans Department (now Sales Support) in 1997; and was named president of MWA Financial Services in 2013. Mr. Lyphout has extensive knowledge in information technology, project management, development and management of broker dealer firms, acquisitions and enterprise architecture.
- EDUCATION: Earned his bachelor’s and master’s degrees in business administration from St. Ambrose University, Davenport. He holds designations of Fellow, Life Management Institute; Fellow, LIMRA Leadership Institute; Chartered Life Underwriter; Chartered Financial Consultant; Fraternal Insurance counselor. He holds Series 6, 7, 24, 26 and 63 securities licenses.
- VOLUNTEER WORK: Mr. Lyphout serves on the boards for Friendship Manor, Two Rivers YMCA and St. Ambrose President’s Advisory Council as well as Just Kids Early Childhood Learning and Care Center. He also is a member of the Society of Financial Services Professionals and has served on many Modern Woodmen committees.
- HOBBIES: He enjoys doing yard work and spending time at the family’s second home in Galena, Illinois. When he gets home from work, he jokes: “I play with the dog and fall asleep on the floor.”
- FAMILY: Mr. Lyphout and his wife, Judy, have a son, two daughters, a son-in-law and two grandchildren.
- MODERN WOODMEN HISTORY: Modern Woodmen of America is a member-owned fraternal financial services organization with about 730,000 members. Founded on Jan. 5, 1883, in Lyons, Iowa, the company moved to Fulton, Illinois, in 1884. The organization’s headquarters has been in downtown Rock Island since 1897.
- MORE INFORMATION: www.modernwoodmen.org.
- CONTACT MODERN WOODMEN: (309) 558-3077 or 800-447-9811.
