COLUMBUS, Ohio–Credit unions in Ohio and Michigan have named new leadership.
In the Buckeye State, Telhio Credit Union has named a new president. The $1.2-billion Telhio has named Derrick Bailey to fill the position.
Bailey most recently served as chief sales officer, leading all revenue-generating aspects, including consumer and business banking, consumer and business mortgage, and fintech program management.
Bailey joined Telhio in 2013 after earning his MBA at Capital University, and within six months commercial lending became the top-performing division, the credit union said.
“He developed innovative policies and procedures to provide loans to community companies and organizations, helping Telhio become a Top SBA lender (#2 overall, #1 credit union),” According to Telhio. “Three years later he joined the executive team, providing the same leadership to the mortgage division and helping Telhio become one of the top consumer mortgage lenders in the market (#12) and one of the top commercial mortgage lenders in the market (#16).”
Perhaps most impactful has been Bailey’s leadership in spearheading Telhio’s involvement as a Community Development Financial Institution (CDFI), which helps to support economically disadvantaged communities, the credit union said.
‘An Honor’
"It is an honor to drive the growth of a leading-edge credit union in our region," said Bailey. "Our team is focused on an effective strategy that supports individuals and families and helps small and medium businesses create jobs that provide opportunities for local communities to thrive.”
Telhio has approximately 70,000 members.
New CEO in Michigan
Meanwhile, in the same state, Michigan Schools and Government Credit Union said Steve Brewer will become its new CEO on Nov. 1, succeeding Pete Gates who announced his retirement plans in June.
During his tenure, Gates oversaw growth to $3.2 billion in assets from $275 million, and membership quadrupled.
“We thank Pete for his years of service and contributions,” MSGCU Board Chair William Cayen said in a statement. “This growth has resulted in a positive impact for our members, including market-leading rates, industry-leading low fees, and giving back to our communities.”
As for its new CEO, according to the board, “Steve embraces our strong culture and exceptional service to members. We look forward to seeing Steve continue MSGCU’s tradition of providing value to our members and supporting the communities we serve.”
Brewer has 30 years’ experience in credit unions, having served for the past 20 as MSGCU’s CFO.
The credit union has more than 141,000 members.
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