MIDLAND, Mich.–Two credit unions have announced new CEOs, one of which is keeping the corner office in the family.
In Michigan, the $1.7-billion Dow Chemical Employees Credit Union announced that after a 36-year career, President and CEO Dennis Hanson plans to retire. The credit union has named current CFO Michael Goad to success Hanson effective April 1. Hanson will serve as CEO emeritus before officially stepping down on March 1, 2021, according to a statement from the credit union.
During his career Hanson has overseen asset growth of 453%, according to DCECU. He began with the credit union in 1984 as a mortgage loan officer and was named president/CEO in April 1993.
Goad has served as CFO for two years, during which he has overseen improved financial results and internal audit and compliance functions, and upgraded investment and loan policies to enhance profitability and member satisfaction, the credit union said.
Goad has 31 years of experience at financial and higher education institutions in Michigan and Indiana. Prior to joining the credit union, he served as CFO of the Notre Dame Federal Credit Union and prior to that as CFO for Lake Michigan Credit Union in Grand Rapids.
In the Family
Separately, in Huron, S.D., the president and CEO of one credit union here has announced retirement plans, and the board has found a successor by keeping the job in the family.
Angie Cumbee, president/CEO of Dakota Rail Line FCU, said she will be leaving the $4.8-million credit union in July 2020. Cumbee began her career in credit unions at Rushmore Electric FCU in Rapid City, where she was CEO for 10 years. She was named CEO of Dakota Rail Line in January of 2015.
According to the Credit Union Association of the Dakotas, the credit union has selected Shelby Gondzar to succeed Cumbee. Gondzar is the daughter of Cumbee and has been working with the credit union for the past five years, and prior to that also worked at Rushmore Electric FCU.
Gondzar has held positions heading up collections, has been a lending officer, and is currently operations manager at the 580-member Dakota Rail Line FCU.
Angie Cumbee is married to Dan Cumbee, president of the $362-million Dakotaland FCU in Huron, S.D.