While the deal to team up United Federal Credit Union and Lake Michigan Credit Union ended up being called off early this year, some of the synergy between the two has paid off in the form of a new President & Chief Executive Officer for the St. Joseph-based United Federal, and he'll take over next week.
The Board of Directors of United Federal Credit Union announced today they have hired Terry O'Rourke as the credit union's new President/Chief Executive Officer, effective March 7, 2016.
O'Rourke replaces current President/CEO Gary Easterling, who announced plans to retire last year. O'Rourke brings 25 years of leadership experience to United Federal, having served most recently as the Chief Financial Officer at Lake Michigan Credit Union in Grand Rapids, the very organization they were working to craft a partnership with when the deal was called off on January 7th.
Mike Hildebrand is Board Chair for UFCU. He says, "We are very pleased for Terry to lead us through UFCU's next chapter." He adds, "He will be a great leader for our team of employees as we seek and implement ways to enhance the financial experience of our members."
O'Rourke is excited for the new role, telling us, "It all starts with people, and I have seen firsthand the strong commitment to members that exists at Team United." He goes on to say, "I'm looking forward to working with UFCU's forward-thinking board of directors and the knowledgeable employees who work with members in the communities we serve every day."
O'Rourke says he gained respect for UFCU's staff and operation during a recent due-diligence process, as UFCU and Lake Michigan Credit Union had considered merging.
Easterling, UFCU's outgoing CEO, is looking forward to retirement and says, "I am leaving United in good hands with Terry. As the point person in the merger discovery process, we were able to see Terry's leadership style in action. This was a unique opportunity rarely available to companies searching for a new CEO".
Prior to his role with LMCU, O'Rourke was the CEO of an international manufacturing company with 700 employees. He has considerable experience in both the financial and manufacturing industries, holding executive positions with Kellogg, Steelcase, Bank of America and National City Bank.
O'Rourke holds an MBA in Finance and Corporate Strategy from the University of Michigan-Ross School of Business, as well as an undergraduate degree from Western Michigan University. He and his family will relocate to southwest Michigan this spring and look forward to becoming part of the community.
United Federal Credit Union has served its Members since 1949 by helping them to build a sound financial future. UFCU consists of more than 140,000 Member/owners worldwide, and manages assets in excess of $2 billion. Its corporate offices and main branch are located in St. Joseph, with additional branches in Arkansas, Indiana, Michigan, North Carolina, Nevada, and Ohio.
