MERRILLVILLE, Ind.–Members Source Credit Union has named Scott Shelton as its new CEO.
Shelton will succeed Charles Donovan, who is retiring after 20 years with MSCU.
Donovan has been CEO of the credit union since 1994, overseeing growth to more than $75 million in assets from $30 million, and expansion from select employees of NIPSCO to a community charter in Lake, Porter, LaPorte, and Jasper Counties in Indiana. Donovan is currently secretary on the board of the Indiana league.
Shelton was previously an examiner with the Indiana Department of Financial Institutions.
“Scott brings expertise in the areas of regulatory compliance and risk management. He is a proven leader and is committed to member service and staff development,” said MSCU Chairman Jeff Perz.
Prior to his service with the Indiana DFI, Shelton had more than 15 years of commercial and consumer lending management experience.