SEATTLE — The $1-billion Seattle Credit Union announced that President and CEO Richard Romero will retire effective March 31, with Chief Financial Officer Michael Cruz stepping in as interim CEO while the board conducts a national search for a permanent successor.
Romero will begin an advisory role March 1 to help ensure a smooth leadership transition. The credit union said its mission, strategy, and day-to-day operations will not change during the handoff.
Romero, who led the institution through a period of modernization and growth, said serving the credit union “has been one of the greatest honors of my career.” He said he was drawn to Seattle Credit Union because of its emphasis on access, opportunity, and community, and expressed confidence in the leadership team and its commitment to members.
Board Chair Robin Harmon praised Romero for strengthening the credit union’s financial foundation, upgrading technology, and expanding service to communities often overlooked by traditional banks. Harmon said the CEO search will prioritize continuity, adding that members should expect the same level of service and community focus throughout the transition.
During Romero’s tenure, Seattle Credit Union deepened its role as a Community Development Financial Institution and secured Low-Income Designation, broadening access to affordable financial services while reinforcing the cooperative’s long-term sustainability. Founded in 1933 by Seattle city employees, the credit union now serves more than 48,000 members.