LAKE JACKSON, Texas–Stephanie Sherrodd, who has been CEO at the $4.1 billion Texas Dow Employees CU for the past eight years, will be leaving the credit union effective April 30 to “pursue other opportunities.”
Sherrodd has been with TDECU for 17 years overall.
In a statement, TDECU said under Sherrodd’s leadership “TDECU experienced unprecedented growth, expanded products and services to a growing membership base, and became recognized as a best-in-class credit union across the industry.”
"I feel fortunate to have served the TDECU board of directors, employees, and members these past years, and am proud of our team's unwavering commitment to our credit union mission, and our community,” said Sherrodd. “I am grateful for the relationships, and the partnerships that have allowed our team to deliver on the growth and success of our credit union. Thank you to the community of Lake Jackson who have embraced my family – we look forward to our next chapter and the future."
Interim CEO Named
Effective immediately, TDECU said SVP/Chief Administrative, Legal and Diversity Officer Isaac Johnson will take over as interim CEO. Johnson has previously held positions at USAA, and Wells Fargo, and currently serves as commanding general of the 351st Civil Affair Command.
“I appreciate Steph’s leadership over the years, and thank the board of directors for entrusting me to take the reins and lead our organization during this period of change,” said Johnson. “I am committed to supporting our Employees, Members and partners as we stay focused on delivering on our credit union mission and serving our communities.”
TDECU reported year-end 2020 net income of $30.4 million and a net worth ratio of 8.45%.
The credit union has approximately 354,253 members.