Editor's Note: This story has been updated since its original reporting.
ALEXANDRIA, Va.–Jim Hayes, whose hiring was big news when the world’s second-largest CU, State Employees Credit Union in North Carolina, looked outside the organization to name him as its new CEO in 2021, is leaving SECU to join State Department FCU effective July 31. He will succeed Jan Roche, who is retiring after 20 years of service with SDFCU. In his place, SECU has named Leigh Brady to succeed Hayes.
The $2.8-billion State Department FCU is just one-twentieth the size of the $50.7-billion State Employees Credit Union. It has approximately 90,000 members; SECU has approximately 2.7 million.
As CUToday.info has reported, during his tenure at SECU Hayes oversaw some cultural changes, including a more relaxed dress code. But some of those changes also drew the attention of local media, including a debate around the credit union’s decision to adopt risk-based pricing in its lending, a practice that had been long-opposed by its legendary former CEO, Jim Blaine.
“During his 18 months on the job, Hayes has reorganized SECU’s senior leadership and is directing some fundamental changes rejected for decades by his predecessors,” Business North Carolina reported in February of this year.
For Hayes the move to State Department FCU will mean returning to a market with which he is familiar. Prior to taking the State Employees’ CU position, he had been president and CEO of Andrews FCU in Maryland, just outside Washington.
Nearly Three Decades in CUs
Hayes has more than 27 years of experience in credit unions, having also served as CFO at the former Western Corporate FCU (Wescorp) and as a capital markets specialist and corporate examiner for NCUA.
Hayes has a Bachelor of Science degree from the University of Southern California, a Master’s Degree from the University of La Verne, and has completed executive education with MIT and Stanford.
“I am thrilled to have been selected as the next President/CEO of SDFCU and I’m looking forward to working with the SDFCU board, volunteers, and team to further the credit union’s mission,” said Hayes
The search was facilitated by Humanidei.
Brady Named New CEO
To succeed Hayes, SECU said its board has selected Leigh Brady as CEO, becomeing the credit union's first female CEO.
Brady has spent 35 years at SECU and is "intimately familiar with the credit Union and its members," SECU said. "Brady will provide stability and continuity as SECU moves forward with a strategic plan to enhance service to the credit union’s 2.7 million members. This includes investments in technology and an ongoing commitment to give employees the tools and support necessary to succeed."
Brady has served as chief operating officer since 2021 and previously held leadership positions in various areas of the credit union, including human resources, communications, organizational development, accounting, marketing, and auditing.
“No one understands SECU better than Leigh Brady,” said Board Chair Chris Ayers in a statement. “She has been an integral part of the credit union for more than three decades and uniquely understands our mission and our members. She is well equipped to continue the improvements and advances that are underway at SECU. I am excited about the future of SECU under Leigh’s leadership.”
“I’ve spent my career focused on enhancing SECU for its members and their families,” Brady said. “I’m excited to step into this new role and will work to further strengthen our Credit Union. That work will be centered on what SECU has always done well — remembering our mission and serving our members.”
Added Ayers, "We are grateful for Jim’s strong leadership and the vision he cast for SECU. Jim brought ideas from outside our institution that will continue to help SECU meet our members where they are and improve their experience. His contributions helped strengthen our staff, modernize technology, enhance member products and services, and position SECU for the future.”
In a statement, Hayes said, “I would like to thank the SECU board ofdirectors for their leadership, direction, and support during my time here. SECU is well positioned for continued success, and I have complete confidence in Leigh Brady’s leadership of the Credit Union going forward. She is an outstanding choice.”
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