ARVADA, Colo.–Partner Colorado Credit Union said it has elevated Doug Fagan to president. Fagan had previously served as CFO, a title he will retain. Sundie Seefried will remain as CEO of the $425-million credit union.
“The demands of the CEO have expanded with the growth of the credit union’s cannabis banking division, Safe Harbor Private Banking,” said Board Chair Linda Head in a statement. “Appointing a new president who will assume some of the operational duties will free up our CEO’s time to educate financial institutions nationwide and work with regulators and legislators. We are fortunate to have Doug step into this role as our president.”
Fagan has more than 32 years’ experience in financial services and has been CFO at PCCU since September 2017. He will now oversee IT, Accounting, Lending, Collections and other day-to-day functions.
“Doug brings a rare combination of financial and operational expertise,” said Seefried. “He has revamped the indirect lending program, which has increased profitability significantly and implemented centralized lending to increase efficiencies and reduce workload at the branches. He has also successfully managed the challenges that come with our unique cannabis banking program.”
Positions With Florida CUs
Prior to joining Partner Colorado, Fagan worked with institutions ranging from $150 million to $2.6 billion in assets, including 10 years with Bay Gulf Credit Union in Tampa as its Accounting Department manager and VP-finance. When Bay Gulf Credit Union and MIDFLORIDA merged, Fagan became senior vice president-finance at MIDFLORIDA Credit Union. Prior to his service with MIDFLORIDA and Bay Gulf Credit Union, Fagan served as senior accountant with Grow Financial FCU in Florida.
“I am incredibly excited to assume this new role and for the future of the credit union,” said Fagan. “We have an exceptionally talented team at Partner Colorado that is focused on continuing to innovate our products in new and diverse ways for our membership, and unlocking future growth opportunities.”
Partner Colorado has more than 32,000 members.