The $4.3 billion Delta Community Credit Union in Atlanta said Rick Foley, its president/CEO, has announced his intent to retire later this year.
"Rick will continue to lead the credit union until the board of directors chooses a successor. The board plans to conduct a national search through an executive recruiting firm over the next few months," wrote Matthew Shepherd, Delta Community senior vice president of marketing and member service, in a July 17 statement to Credit Union Times.
Foley joined Delta Air Lines in 1966 and has served on the credit union's management team since 1986. He was promoted to president/CEO in 2004.
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"Delta Community is grateful for Rick's dedication and many contributions to its success," Shepherd said.
Foley's retirement announcement comes a week after Delta Community confirmed that it had reached an agreement in a breach of contract suit with a real estate developer, who received a judgment earlier this year for $75.4 million.
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