SAN LUIS OBISPO, Calif.—New CEOs have been announced at credit unions on opposite coasts.
In California, the $1.2-billion SESLOC Credit Union has named Mike Quamma to succeed Geri La Chance as president and CEO. La Chance plans to retire in June 2024 after 12 years at the credit union. Quamma currently serves as EVP/CFO.
"It’s hard to aptly summarize the legacy Geri will leave at SESLOC after 12 years at the helm of the credit union,” Chairman Tom Lebens in a statement. “She will leave SESLOC well-positioned for the future thanks to the myriad of changes she has championed. During her tenure, the credit union grew to over $1.2 billion in assets and garnered frequent, regular recognition and accolades from the community and the credit union industry. Her political advocacy, statewide and nationally, has helped to protect the important role that credit unions play in people's lives.
‘Indelible Stamp’
“But equally important is the indelible stamp she has made on the workplace at SESLOC. Great company culture is no accident. Geri has set the tone and expectation at the top that SESLOC must be, above all, a great place to work,” he added.
The credit union said LaChance led SESLOC’s technology infrastructure, which includes “robust systems and a keen focus on digital technologies that enhance the ease of doing business with SESLOC.”
Additional Accomplishments
The credit union further said LaChance:
- Championed the construction of SESLOC’s new headquarters, which opened in 2014, as well as getting SESLOC back on the Cal Poly campus.
- Earned accolades such as “Top 50 Women in Business,” “Best Places to Work” and “50 Fastest Growing Companies.”
- Has been active in the local Central Coast community, and is a member of the Cal Poly Corporation board, chair of the Foundation for Performing Arts Council, board member and past chair for the SLO County YMCA, and advisory board member to the REACH Council on Central Coast regionalism.
- Served as past chair of the SLO Chamber of Commerce, past member of the SLO Food Bank and previously served as a board member with Leadership SLO and the SLO Housing Trust Fund.
Advocate for CUs
“Advocating for growth of the credit union movement is something that LaChance has done numerous times in her 36-year career,” the credit union said in a statement. “Her unwavering dedication to equity and inclusion shined a light on a global credit union movement in the late nineties. The Polish credit union (movement) was in its infancy as it was forming after the fall of communism. She was instrumental in the Twinning Program,’ where she mentored and facilitated partnerships between U.S. credit unions and their newly formed Polish counterparts.”
Also on the CV
The credit union further noted that LaChance:
- Currently serves as chair of the California Credit Union League
- Was the 2022 co-chair of the Credit Unions for Kids Wine Auction, benefitting Children’s Hospitals in California and Nevada, which raised $1.5 million for Children’s Miracle Network at the gala/auction
- Was named the CCUL’s Advocate of the Year in 2021 for political grassroots
The New CEO
As for the new CEO, the credit union said Quamma has been with SESLOC since 2020 and has been “instrumental in ensuring the financial stability and resilience of our credit union during the challenging times of the pandemic and its aftermath.
“Mike brings to his new role nearly 30 years of credit union experience, including senior positions at Seattle Credit Union and Boeing Employees Credit Union,” Lebens said. “Mike has also been a visionary leader in developing and implementing our long-term growth plans and strategic initiatives, with a focus on enhancing our products, services, and digital capabilities for our members.”
SESLOC said one of the most important traits the board was seeking in a new CEO is the desire and ability to build upon the great culture at the credit union.
‘Ready Sense of Humor’
“Quamma’s ready sense of humor, love of teaching, belief in the credit union mission and vision for the future will serve him well in this regard,” Lebens said. “Mike will also continue deep involvement in the local community, currently serving on the board of the SLO Food Bank as the treasurer, the SLO Chamber Economic Development Committee, and the SLO Downtown Association Finance Committee.”
Quamma is a recent Class 31 Leadership SLO graduate.
SESLOC has more than 59,000 members.
New CEO Named in Massachusetts
In Lowell, Mass, the $693.8-million Align Credit Union has named Lydia Mercedes Vazquez as its new president and CEO.
Vazquez, who succeeds Kenneth M. Del Rossi, who had a 30-year career with the credit union, has for the past four years served as EVP/COO with Align CU. She is the first female president and CEO in the history of the 28,000-member credit union, as well as the first Hispanic to hold a senior leadership role.
Congratulations Shared
"Congratulations to Lydia on her historic appointment as president and chief executive officer of Align Credit Union. Her leadership will continue to inspire growth, innovation, and a steadfast commitment to their members,” said Ron McLean, president and CEO of the Cooperative Credit Union Association. “Ken's exceptional leadership as CEO has left an indelible mark, guiding with wisdom, integrity, and a passion for the community. We wish Ken a retirement as extraordinary as his tenure.”
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