Jeffrey W. Merry (pictured at left) will be the new president/CEO of the $1.3 billion Volunteer Corporate Credit Union as of Jan. 1, 2016.
He will replace current VolCorp CEO Rick Veach, who will retire on Dec. 31, according to a statement released by the Nashville, Tenn.-based organization Wednesday.
VolCorp's board of directors unanimously named Merry CEO during the organization's annual meeting on Aug. 20. He currently serves as VolCorp's senior vice president and chief financial officer.
Veach was appointed VolCorp's CEO nine years ago during a financially turbulent time for the corporate credit union network. VolCorp was one of just five corporate credit unions that remained solvent.
Under Veach's leadership, the corporate successfully dealt with many challenges, including the failure of U.S. Central Corporate Federal Credit Union, recapitalization, stricter NCUA regulations and VolCorp's mergers with the West Virginia and Kentucky corporates.
"It has been an honor to lead VolCorp these past nine years and to serve the needs of our credit union members," Veach (pictured at left) said in a statement. "I am proud of what we have accomplished as a team on behalf of our members, and am convinced that VolCorp will continue to be an increasingly strong force in the credit union movement and will bring innovative ideas and create efficiencies for many years to come."
Merry will become the fourth CEO in VolCorp's 35-year history.
He was promoted to senior vice president and chief financial officer in 2008. Prior to taking that position, he served as VolCorp's chief investment officer.
Merry was named the CFO of the Year and received the CU Times Trailblazer Award in 2014.
"I am very blessed to be selected by the board to lead VolCorp into the future," Merry said in a statement. "It is important to ensure our members that our focus will remain earning their trust every day. We can accomplish this by being engaged and understanding how VolCorp can best add value to their mission of service to their members."
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