Known for his venerable expertise on credit union trends, Dave Colby, chief economist for CUNA Mutual Group, will retire July 11 after 37 years, the company said Monday.
"The most rewarding part of my job was exchanging insights with our customers who are responsible for delivering financial services to members on Main Street," Colby said. "I always felt re-energized after league events or credit union planning sessions Thank you to everyone with whom I've worked. I hope I made a difference."
Colby joined CUNA Mutual in 1977 as a corporate research specialist and has held various corporate, operational and strategic planning positions, the company said.
He is also a founding member of the Credit Union Economics Group, which provides a broad perspective of macroeconomic and credit union trends.
One of Colby's most notable achievements is the Credit Union Trends Report, a monthly pulse check on the economic state of the credit union movement.
His knowledge of the national economy, the consumer financial marketplace and the credit union system has led him to many corporate and industry-level task force assignments, and he is widely recognized as a leading speaker at industry conferences, CUNA Mutual said.
"Dave will be missed, not just as a long-term and dedicated employee but as a valued industry resource on credit union economics and consumer finance," said John Lass, senior vice president, CUNA Mutual Group Business Development and Strategy. "The expertise he brought to the position through his many industry speaking engagements and relationships is difficult to replace."
Colby will be succeeded by Steve Rick, a senior economist for CUNA, according to CUNA Mutual.
Rick joined CUNA & Affiliates in 1992. As a senior economist, he conducted economic research and taught at various credit union schools and conferences.
He holds a senior lecturer position with the Economics Department at the University of Wisconsin-Madison where he teaches money and banking, and macroeconomics courses. He holds M.S. and ABD Ph.D. degrees from UW-Madison.
"(We) are thrilled to have Steve Rick step in and maintain the tradition Dave has established. Steve is uniquely qualified to step into this position without us missing a beat," Lass said.
Colby said "Steve Rick will do an excellent job letting everyone know the latest trends and what lies over the horizon."
The Trends Report will continue under Rick's guidance, according to CUNA Mutual.
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