SOUTH BEND, Ind.–Paul Marsh, president and CEO of the $4-billion Teachers Credit Union, has exited the organization. The credit union, which is the largest in Indiana, said Waylon Peterson, current president of TCU Wealth Management, will serve as the new interim president and CEO.
Marsh had spent his entire career at TCU and was named fifth president of the 90-year-old credit union in 1991. He joined TCU in 1989 as an intern after graduating from Indiana University South Bend with degrees in accounting and management, according to the South Bend Tribune.
“We thank Paul for his work and contributions over the last decade as CEO and wish him well as he pursues the next chapter of his career,” said Board Chair Dr. Vincent Henderson in a released statement.
As CUToday.info reported earlier, CUNA said it will hold an election to fill two new vacancies on its board, one of which is an at-large seat that was previously held by Marsh.
More Than 20-Year History
Peterson has led TCU Wealth Management for the past 21 years, and over that time overseen growth to more than $1 billion of assets under management.
“I am excited to be TCU’s interim leader and know with the support and dedication of all our team members, we will continue to be the best credit union in the Midwest,” he said in a release.
Teachers Credit Union has nearly 60 branches throughout Indiana and Southwest Michigan, and more than 300,000 members.