MIDLAND, Mich.–After 25 years with Members First Credit Union (MFCU), President and CEO Eric Brubaker has announced his retirement at the end of this year, with the credit union also naming his successor.
The $705-million Members First said current EVP Carrie Iafrate has been selected to lead the organization effective Jan. 1, 2022.
Brubaker began his career with the credit union as the accounting manager, moving to vice president of finance before taking the lead as president and CEO. During his career he has overseen growth from 18,000 members and two branches to 58,000 members and 11 branches, spanning from Midland to Grand Rapids, Mich., and to its current asset size from $161 million in assets.
“It has been an honor to lead this credit union for the past 15 years, and to work with our members for nearly a quarter century,” said Brubaker in a statement.
‘Leadership, Vision’
Brubaker led the charge in adding business lending and deposit products, offering investment options through Members First Investment Services, and was instrumental in collaborating with fellow leaders to open Credit Union Trust, Michigan’s first fiduciary service provider organized by credit unions.
“Eric’s leadership, vision, and care for our members and employees has helped us to achieve great success throughout his career,” said Board Chairman Bob Cooper. “We are grateful for his dedication and commitment to our credit union, and are excited for him to transition into this new phase of life.”
20-year Career
Iafrate started her career with the credit union nearly 20 years ago as the marketing manager. According to MFCU, throughout her career Iafrate has focused on strategic planning, organizational growth, product development, high performing leadership and talent development, strategic marketing/data analytics and culture development.
“I couldn’t be more honored than to be chosen by the Board as the next leader of our outstanding organization,” Iafrate said. “I speak openly and often about my love for this credit union and our movement. Our team’s commitment to people helping people and confidence in our future together is inspiring. I care deeply about our members, team, and communities and will embrace this responsibility to ensure we all thrive.”