Bruce Fafard (pictured) began his duties as the new president/CEO of the $494 million 121 Financial Credit Union on May 4, according to a prepared statement from the Jacksonville, Fla.-based cooperative.
He replaced Bill Braddock, who retired after serving 28 years as 121 Financial's president/CEO.
Braddock was credited with steering the institution through the Great Recession while increasing the number of branches and members. He also recently guided the credit union through its merger with Duval Federal Credit Union.
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"I have had a satisfying tenure at 121 Financial," Braddock said. "We have done a lot of good things and much of that is due to the outstanding team we have serving our members."
As the former president/CEO of the $248 million Scient Federal Credit Union in Groton, Conn., Fafard's background includes expertise in strategic planning, charter expansion and developing high-performance teams.
"We are extremely excited to bring on Bruce as the next visionary leader of our credit union," 121 Financial Board of Directors Chair Eddie Clanton said. "He has the experience and capabilities necessary to take 121 to the next level."
121 Financial serves more than 47,000 members and operates 13 branches.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
