The $72 million PowerNet Credit Union in Tampa, Fla., has promoted its 12-year CFO Don Prue to CEO, leaving Tim McMurry with the title of president after more than 37 years as president/CEO.

Founded as Electricians Local 217 Credit Union in 1961, PowerNet has grown to serve more than 30 building and construction unions from offices in Tampa, Plant City and Jacksonville. Last year, it won the right to serve construction trades unions across the entire Sunshine State, the credit union said Tuesday in an announcement.

Now, Prue “will be leading the credit union going forward. McMurry will focus on building relevance into the reason for membership and the importance of active participation with PowerNet Credit Union as the largest labor-based, member-owned financial institution in Florida continues to grow to meet the challenges of the future,” the announcement from the credit union's board said.

“This change in the field of membership will be an important tool for us to help thousands of Florida's union members gain greater financial independence and reach a more successful retirement after a life of dedication to the organized construction industry,” McMurry said.