ONTARIO, Calif.–Richard Myles Johnson, the longtime leader of WesCorp and an icon to many in credit unions, has died. Mr. Johnson was 92.
Among the legacies left by Johnson is the Richard Myles Johnson Foundation, which champions financial literacy.
“This is a very sad day for the credit union community—Dick will be missed by all,” said California and Nevada Credit Union Leagues President and CEO Diana Dykstra in a statement. “We are all saddened by this great loss not only to the industry but through our personal relationships with him throughout the years.”
Johnson was first exposed to credit unions while serving as a comptroller of the San Diego Marine Corps Recruit Depot. Maj. Gen. Kenneth L. Robinson was chairman of the board of Marine Corps Recruit Depot FCU, and asked Johnson to take the helm of the then-struggling credit union. Robinson, who also recently died, would eventually go on to become president/CEO of NAFCU.
Once in credit unions, Johnson moved to then-California Central Federal Credit Union in 1976, which eventually became Western Corporate Federal Credit Union or WesCorp. While at WesCorp Johnson oversaw extraordinary growth from $71 million in assets to $32 billion in assets by the time he retired from the San Dimas, Calif.-based institution in 2002. Along the way, he gained a national charter for WesCorp, and ACH membership for credit unions, and took the first corporate CEO seat on the U.S. Central board of directors.
During his career Johnson also served as interim president of the California Credit Union League both in 1989 and 1990.
Prior to joining credit unions Johnson had a distinguished career in the military. He joined the U.S. Marine Corps in 1941 and ended his military career as a colonel in 1972. Along the way, he amassed a vast number of ranks, honors, and awards, including the Bronze Star and Purple Heart. On Jan. 20, he was honored for his exemplary 30-year military career by the Anaheim (California) Ducks hockey team.
For his work in credit unions Johnson was the recipient of numerous honors. 1999, the California Filene Foundation, established to promote credit union education, was renamed in his honor. He received the California League’s highest honor, the Leo H. Shapiro Lifetime Achievement Award in 2002. He received the 1993 Dick Ayres Memorial Award, recognizing the corporate executive who most demonstrates the qualities of leadership, integrity, and commitment to cooperative principles and motivation. In 2001, he received the Herb Wegner Lifetime Achievement Award.
Johnson was also the first credit union person to receive the National Cooperative Bank’s Cooperative Statesman Award, and he was inducted into the Credit Union Executives Society Hall of Fame. He received the first-ever Dr. Jim D. Likens Alumni Recognition Award from Western CUNA Management School in 1991. The award, named after now retired WCMS Dean and President Dr. James D. Likens, is given to those who demonstrate professional excellence and commitment to the credit union industry. Johnson was a 1975 WCMS graduate and also served as an instructor for the school for 14 years.
“Mr. J’s leadership has been a guiding force for the RMJ Foundation, and for me both professionally and personally,” said Executive Director Tena Lozano. “He was an active, involved board member all the way to the end. His legacy, though, will live on in our work.”