EL SEGUNDO, Calif.─ Xceed Financial Credit Union announced that Michael J. Sacher, a highly experienced and well respected CPA and financial consultant to credit unions, has been named to the position ofExecutive Vice President/Chief Financial Officer.
Since early February, Sacher has served as interim CFO for Xceed, working as an independent contractor while the Credit Union searched for a permanent replacement for its previous CFO.
“During these past several weeks, it became clear that the absolute best person for this role was Mike Sacher, and I am thrilled that he has agreed to join the Xceed team as our permanent Chief Financial Officer,” said Teresa Freeborn, President and Chief Executive for Xceed Financial. “In the short time he has been on board, I have been impressed with Mike’s insights and perspective. I anticipate that the breadth and depth of his experience will be incredibly valuable to Xceed in the coming months and years.”
Sacher has more than three decades of credit union experience, encompassing accounting and finance, internal controls, risk management, and credit union governance. He also has extensive expertise in mergers and acquisitions, as well as asset liability management (ALM), and is well-known for his ability to work effectively with credit union regulators.
Previously, Sacher operated a successful consulting practice since 2008. He also served on the Board of Directors of Simplicity Bank from 2008 until the bank was acquired in 2015. In 2012, he launched Protect My Credit Union.com LLC, which provides a means for credit union employees to report suspicious activity. Earlier in his career, Mike led the Los Angeles office of McGladrey & Pullen’s National Credit Union Division, which delivered audit and consulting services to more than 150 credit unions, ranging in size from $5 million to $7 billion in assets. He earned his Bachelor’s degree in Business Administration, with a concentration in Accounting, from California State University, San Francisco and has been a CPA since 1978.