RAPID CITY, S.D.– Two credit unions have announced new presidents/CEOs, and both found their candidates internally. In Michigan, meanwhile, a CEO has announced retirement plans after 40 years.
In South Dakota, the $1.6-billion Black Hills Federal Credit Union has named its next president and CEO. BHFCU said Senior Vice President Jerry Schmidt will begin leading the organization effective Jan. 4, 2021, succeeding the CU’s long-time president and CEO, Roger Heacock, who is retiring.
According to Black Hills FCU, Schmidt has solid leadership experience and a steadfast commitment to the credit union, having served BHFCU for over 13 years as SVP/COO. He has during his career overseen operations, facilities, risk management, insurance, investments and other services, the credit union said.
Prior to BHFCU, Schmidt enjoyed a career with Safeway, Inc, where he served in various leadership roles.
“Early in 2019, the board engaged a consulting firm to conduct a nationwide search for an ideal candidate to lead BHFCU,” said Chairman Jason Green. “We knew it would be critical to find the right person to replace Roger Heacock, an amazing leader who served the credit union for 42 years.”
‘Honored’ By Decision
A Rapid City native, the credit union said Schmidt’s extensive knowledge of the organization and region, paired with his passion for the credit union’s mission, will bring consistent and innovative leadership to BHFCU.
“I am honored to further Black Hills Federal Credit Union’s mission of Improving Lives,” said Schmidt. “I look forward to continuing to work alongside our leadership team, our visionary board of directors, and BHFCU’s amazing staff to provide the excellent service our members expect and deserve.”
Added Heacock, “Having worked with Jerry for over 13 years, I fully support the board’s decision. I am confident in Jerry’s leadership and his commitment to Black Hills Federal Credit Union, our members, and the communities we serve. I can retire with confidence, knowing that under Jerry’s guidance, our members and staff are in capable hands.”
Succession Plan in Maine
Meanwhile, in Hampden, Maine, the $518-million Maine Savings FCU has announced a succession plan that will lead to the retirement of longtime president and CEO John Reed. Vanessa Madore, the credit union’s current COO, will be promoted to president at the end of 2020. Reed will remain CEO until his retirement in January 2023, at which time Madore will assume the role as president and CEO.
“Our succession plan is solid and transparent, and will allow me to work closely with Vanessa over the next 24 months to ensure a smooth transition,” said Reed.
Reed joined Maine Savings FCU in 1990 as only its second president/CEO in its 59-year history. Since that time, the credit union has added a number of subsidiaries, including CUSO Home Lending and Business Lending Solutions.
Madore is a Hampden native and has been with Maine Savings FCU for 16 years, starting her career as a teller, following her graduation from Smith College. Madore is involved in her community and is a fierce advocate for Maine elders, the CU said.
A Focus on Vision
“I am honored to be selected to serve as the third president and CEO of Maine Savings in its 60-year history,” said Madore. “In this role, I plan to focus on our vision, values, employee engagement, products, services, our member service standards, and our communities. I will continue our legacy of people helping people while ensuring that our approach is always member-centric. Our goal is to be there for our members at all life stages and ultimately to be their financial life partner.”
Retirement in Michigan
In Michigan, meanwhile, Dan Baines, president/CEO of the $160-million Bloom Credit Union, will be retiring from the credit union in the summer of 2021 following a career that spans more than four decades with the credit union (which was named Multi-Products Credit Union when he started).
During this time, Baines has served as a board member of the Michigan Credit Union League (MCUL) for over 14 years, with four combined years as secretary/treasurer and vice chairman of the board, as well as four years on the MCUL Audit and Process Committee. Baines has also been involved with the Grand River Chapter of Credit Unions for nearly three decades, including service as the chapter’s director, the Michigan league reported.
Baines led Bloom through the change from its auto industry-based beginnings to a community chartered credit union (then called My Personal Credit Union) in October 2005, before it was rebranded to Bloom Credit Union in August 2019.
“In 2019, the credit union more clearly defined its mission around helping people thrive financially, specifically focusing on lowering members’ loan payments and growing their credit scores,” the MCUL said.
A ‘Driving Force’
“Dan’s leadership and dedication to serving our membership has been a driving force behind the success of the credit union for the past 40 years. He will be greatly missed; however, we wish him well in his future endeavors,” said Bloom CFO Joe Heintskill.
According to the league, Baines helped employees, management team and board of volunteers see changes as opportunities to grow and support members in new and exciting ways. He also worked tirelessly to raise donations for many charities throughout his career, including Children’s Miracle Network Hospitals, Kids Food Basket, Lori’s Voice, Catherine’s Care and Safe Haven.
“I’ve been blessed to work with Dan in various capacities over the past 23 years,” said MCUL CEO Dave Adams. “He is one of the most unassuming and principled leaders I have ever worked with. His involvement and commitment with the chapter and with the League have been outstanding and I will miss his calm, watchful, but supportive leadership. Many lives have been made better thanks to Dan’s authentic cooperative leadership style.”