1st MidAmerica Credit Union announced that President/CEO Don Reedy will retire at the end of May this year, ending a 35-year career with the organization. The 1st MidAmerica board of directors has selected EVP/Chief Operating Officer Alan Meyer to be Reedy's successor, effective June 1.
"I am grateful for the opportunity to lead 1st MidAmerica, and have enjoyed working with the employees who provide outstanding service to our members," Reedy said. "1st MidAmerica will remain under excellent leadership with Alan Meyer."
During his tenure, Reedy has overseen an expansion of services offered by 1st MidAmerica, which is based in Bethalto, Ill. Reedy joined the credit union–then called Olin Employees Credit Union–in 1978 as a collections manager. At the time, the credit union had $15 million in assets and served 7,751 employees of Olin Corp. 1st MidAmerica has since grown to $482 million in assets, with 175 employees and more than 45,000 members.
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"It's been an honor to have worked with Don over the past 23 years," said Ted Klasner, 1st MidAmerica's chairman. "His focused leadership has made this organization such a success."
In 2011, Reedy was inducted to the Illinois Credit Union League Hall of Fame. He was honored by the Riverbend Growth Association in 2012 for his work on behalf of the organization. Twice, the credit union was awarded a Captain of the Riverbend Award for its dedication to the community under Reedy's leadership. And in 2012, the credit union was recognized with an honorable mention in the national Community Credit Union of the Year program.
Meyer, the incoming CEO, has more than 29 years of experience in the financial services industry. He has been part of the 1st MidAmerica management team since 2002, working closely with Reedy over the past 10 years.
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