LOS ANGELES–John T. Dea, president/CEO of Los Angeles Federal Credit Union, has announced his retirement plans, with the credit union also announcing his successor.
Dea, who has been with LAFCU for 25 years and who has spent 43 years in credit unions, said he will be retiring in February 2018.
During Dea's tenure at LAFCU, the credit union tripled in size to almost $1 billion in assets and is one of the largest and best-capitalized credit unions open to all Southern California residents. LAFCU was founded in 1936 and now has more than 60,000 members, and has received several recent awards, including “Best Credit Union” and "Best Places to Work" in Southern California, and the "Best Credit Union to Work For" in the USA.
Dea is a graduate of the Western CUNA Management School (WCMS), served as the president of the San Gabriel Chapter of Credit Unions, has taught credit union classes to Los Angeles Unified School District high school students, and taught classes through CUNA’s Staff Training and Recognition (STAR) program to credit union employees and volunteers. He also served on the WCMS board of directors.
Named to succeed Dea as CEO is Richard Lie, who is currently executive VP/chief financial officer at LAFCU.