CHUBBUCK, Idaho–Credit unions in two states have announced the planned retirements of their CEOs, with both CUs also naming successors.
In Idaho, Ken Oram, president and CEO of Idaho Central Credit Union, said he plans to retire effective at year-end. As his successor, Idaho Central CU has named EVP/COO Brenda Worrell to lead the organization.
Oram joined ICCU in 1984 and was named CEO in 2007. During his CEO tenure, ICCU grew to $8.7 billion in assets from $613 million, to 516,538 members from 67,797 members to 516,538 members, to 1,700 employees from 249, and to 46 branches from 18.
During his career Oram was named as the Credit Union Executive Society’s Outstanding Chief Executive in 2013 and was inducted into the CUES Hall of Fame in 2014. He has also been recognized as an Idaho Business Leader of the Year, Idaho Business Review CEO of Influence, and Idaho Business Review ICON.
In addition, Oram recently served as chair of the Northwest Credit Union Association, and he currently serves on the boards of the Portneuf Medical Center and the Boise Metro Chamber of Commerce.
‘Honor of My Life’
“It has been the professional honor of my life to lead Idaho Central Credit Union’s Green Team. Our mission is to help our members achieve financial success and we fulfill that mission many times daily,” Oram said in a statement. “I could not have been an effective CEO without the support of my family, particularly my lovely wife of 43 years, Dawnette. I am excited to begin the next chapter as a full-time husband, father to my three daughters Holly (Tony), Jodi, and Noelle (Clark), and Papa to our 13 grandkids.”
Added ICCU Board Chair, Troy Neu, says, “Idaho Central Credit Union is fortunate that Kent chose to make ICCU his professional home. We have the utmost respect and admiration for how he has led Idaho Central Credit Union for the past 15 years. We thank him for his many contributions and wish him well.”
State Farm FCU’s DeWitt to Retire
Meanwhile, in Bloomington, Ill., State Farm Federal Credit Union CEO & President Tom DeWitt has announced his plans to retire in August after 31 years with State Farm. Current SFFCU Chief Financial Officer Steve Gorrie will succeed DeWitt effective Aug. 1.
“During his tenure, DeWitt has been involved in many changes including two State Farm credit union consolidations, standing up a new member care network and implementing new technologies to better serve the State Farm employees, agents and retirees who make up the membership base,” the credit union said in announcing the retirement. “Some of his proudest career moments have come during the recent pandemic as SFFCU as well as the credit union industry quickly adapted to business challenges without losing focus on their member and their needs. He has frequently said the introduction of the SFFCU mobile app and the new online banking platform in March 2020, were ‘just the right solutions, at just the right time for our members’.”
Strong Asset Growth
The credit union noted that since the creation of the SFFCU structure in 2006, it has grown from $2.6 billion in assets to more than $5.6 billion under DeWitt’s leadership.
DeWitt has worked in the financial services industry for 48 years including his tenure with SFFCU, and he has been active with CU trade associations, including currently serving as chairman of NAFCU. He has served on the NAFCU board since 2014 as the Western Region Director and has held several positions including secretary, treasurer, vice chairman. DeWitt also served on the Illinois Credit Union League board from 2007 to 2011.
‘Servant Leadership’
“Tom’s servant leadership and his focus on supporting the SFFCU mission to improve the financial wellbeing of our members is his true legacy,” says SFFCU Board Chairperson Holly Roberts. “He sees members and staff as his extended family, and anyone who knows Tom knows his commitment to family. Not only is SFFCU in a strong and secure financial position, but the positive work environment he has helped create resonates with both SFFCU staff and members alike.”
The New CEO
Gorrie has been with SFFCU for 13 years and 30 years with State Farm. He has held leadership positions both within the State Farm organization and SFFCU. During his time with SFFCU, he has been the chief operations officer and, his most current role as CFO since 2011, and he has played a “critical role” in SFFCU’s growth and stability,” the credit union said.
“A lifelong learner, Gorrie has earned his CPCU, CLU, ChFC, and CPA designations and his green belt in Six Sigma/Lean. He has received CUNAs CUCE, NAFCUs NCCO and NCRM, and CUES CCE certifications,” the credit union stated. “He also currently serves on the Illinois Credit Union League Service Corporation Board of Directors and the NAFCU CFO Network Steering Committee.”
Gorrie also serves his local community through volunteering with Special Olympics of Illinois and Midwest Food Bank.
“Steve is a seasoned leader and a familiar face to our members and staff. He brings a wealth of financial and industry experience and an in-depth understanding of the SFFCU mission, vision and values that will help lead us well into the future,” says Roberts.
One Office Operation
SFFCU operates one branch located in State Farm’s home office and serves approximately 121,000 members in all 50 states. Membership is open to all U.S. State Farm employees, agents, retirees, and certain members of their immediate families.
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