LAS VEGAS–Rick Schmidt, president and CEO of WestStar Credit Union, has announced plans to retire on Jan. 2, 2023. A search is underway for a new leader for the $258-million credit union.
Schmidt has served in his current role since more than 2010. Prior to coming to WestStar, he had over 30 years of experience in the financial services industry, including 28 years with credit unions.
In a statement, the credit union said during Schmidt’s tenure as CEO, he “played a critical role in helping the credit union survive the Great Recession, thrive in the years in between, and helped WestStar’s unique membership base endure through the pandemic.”
The credit union serves employees of many of the entertainment and hotel properties on Las Vegas’ famed Strip, along with anyone employed by the gaming industry.
Schmidt has also served as chairman of the Nevada Credit Union League board, chair of the Credit Union Advisory Council for the CFPB, and received the Nevada PAC Advocate of the Year award on two different occasions, as well as the Distinguished Service Award from the Nevada Credit Union League.
Not an Easy Decision
Schmidt was also featured in a Wall Street Journal report on CEOs at credit unions with narrower fields of membership.
“I know it wasn’t an easy decision,” said Board Chair Craig Hawkins. “WestStar Credit Union has been his pride and joy...the new CEO will be filling some big shoes”
The credit union has approximately 21,000 members.
The search is being handled by Humanidei + O’Rourke.