ALTADENA, Calif.–One credit union has announced a new CEO, while another long-time leader has announced plans to step down.
In California, the $932-million First City Credit Union has named Nav Khanna as its president and CEO. Khanna succeeds Jim Miller, who retired after a distinguished 13-year credit union career.
Khanna has been in financial services since 1990 and in credit unions since 2001 — 15 of those years at the C-suite level.
Most recently, Khanna was executive vice president and COO at the $4.7 billion Travis Credit Union in Vacaville, Calif.
Khanna earned his Masters of Business Administration (MBA) degree in international business and finance at the University of Hartford in Paris, and Hartford, Conn., as well as his Bachelor of Arts (BA) degree in finance and economics from the University of Toronto.
“I am thrilled and humbled to be chosen to lead this next phase of growth for First City Credit Union,” said Khanna. “I love our movement, the state of California, and what this organization stands for. I am looking forward to building upon the strong cooperative finance business model that has been forged thus far. Along with the First City team and its board of directors, I also look forward to making an even greater and positive impact on our members and our communities well into the future.”
First City has more than 61,000 members.
CEO Retires in Michigan
Meanwhile, in Clinton Township, Mich., Pete Gates, president and CEO of Michigan Schools and Government Credit Union (MSGCU), has announced plans to retire at the end of this year.
Gates has served as the CEO of the $3.1-billion MSGCU since 1998 and has been active in the credit union movement throughout his career.
“Pete has supported the mission of MSGCU during his tenure as CEO, with growth to $3 billion in assets and over 135,000 members,” said Board Chairman William Cayen in a statement first published by the Michigan league. “We have had the benefit of his exemplary leadership for over two decades. We thank Pete and wish him the best in his future endeavors.”
Added Gates, “I have enjoyed my time with MSGCU and am proud of what we have accomplished as a team, the value we have provided to members and communities, and being a Top Workplace for our team members. I look forward to seeing the Credit Union’s continued growth and service to members under the new CEO.”
The credit union has retained D. Hilton Associates to handle the search.
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