The $11.7 billion SchoolsFirst Federal Credit Union in Santa Ana, Calif., is mourning death of longtime board member and advisor Esmael (Essie) Adibi, who was an internationally recognized economist and economics professor at Chapman University.
Adibi, 63, died of complications from a stroke on April 8, according to a SchoolsFirst prepared statement released Thursday.
A memorial service for Dr. Adibi will be held April 16 at 11 a.m. in the Wallace All Faiths Chapel at Chapman University's Fish Interfaith Center in Orange, Calif.
Recommended For You
"We've lost a friend and strong advocate for our Members, and collectively we feel the weight of his loss," SchoolsFirst CEO Bill Cheney said. "While I have worked more closely with Essie over the last two years at SchoolsFirst, I've had the honor to know him and work with him for more than a decade. His involvement in the credit union movement extended beyond our credit union to the state, national and international level. I know he will be missed by many, and we send our heartfelt sympathies to his family and the Chapman University community during this difficult time."
As a 35-year member and nine-year board member, Adibi consistently provided his well-researched economic insight to help lead the credit union through a period of unprecedented growth and success, including the years leading up to and during the Great Recession.
"His focus and expertise helped us to stay true to our purpose and serve our Members through some of our most expansive years," retired SchoolsFirst FCU President/CEO Rudy Hanley said. "It was a distinct honor to work with one of the most respected economists in the world for the benefit of our members."
In addition to serving on the SchoolsFirst board, Dr. Adibi also served on the credit union's CUSO board of managers from 1999-2003 and mortgage company board of managers from 2003-2007. He also served various terms on the SchoolsFirst finance, risk and nominating committees.
"It was truly amazing to witness Dr. Adibi's economic outlook at work," SchoolsFirst CFO Francisco Nebot said. "His inquisitiveness and unique ability to ask the right questions at the right time allowed us to minimize risk where needed and secure our members' best interests time and time again. He challenged us all to be better for our members, and I am truly indebted to him for his guidance and friendship."
Born in Iran, Dr. Adibi received his Bachelor of Science degree from the University of Tehran, then moved to the U.S., where he pursued an MBA at Chapman University. He went on to achieve a Master of Science in economics from California State University, Fullerton, and a Ph.D. in economics from Claremont Graduate University.
Dr. Adibi joined the Chapman faculty in 1978 and was appointed director of the A. Gary Anderson Center for Economic Research in 1985. For the past 37 years, he has been a sought after presenter of the Chapman University Economic Forecasts.
"Essie was an amazing educator and his contributions to the educational community were tremendous. He was able to advance the knowledge of his students, many of whom have become leaders in their fields," Kristine Wetzel, SchoolsFirst board chair, said. "In addition to his teaching accomplishments, Essie's expertise was valued by the entire board. His presence, humor and contributions will be missed by us all."
Dr. Adibi is survived by his wife Jila, daughter Roxanne, son Keeya, son-in-law William, future daughter-in-law Irene and grandchildren Nicholas and Alexander.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
