Doug Schwartz, president/CEO of the $147 million Elko Federal Credit Union, was killed in a hit and run incident Wednesday in Elko, Nev., according to the credit union's board chair, Jon Wahrenbrock, and local media outlets.
The 58-year-old Schwartz was struck by a Jeep Cherokee while he was crossing the street to his vehicle at about 8:10 p.m. He was transported to Northeastern Nevada Regional Hospital, where he died, according to the Elko Daily Free Press.
The suspected driver, Daniel Vasu, 28, of Elko, was arrested by police Thursday on a hit and run charge, a felony, according to the newspaper. His bail was posted at $100,000.
After a board meeting, Wahrenbrock said Schwartz (pictured at left) and the board members had dinner at Machi's Saloon and Grill.
“We were done with dinner, two other board members already left, our counsel left, then I left and this had transpired five minutes after I walked out the door,” he said.
Wahrenbrock said Schwartz's death is a terrible loss not only to the credit union, but to his family, the community and his church.
“This was a senseless tragedy,” he said. “He will be sorely missed here. He was a tremendous asset to Elko Federal Credit Union and we are just devastated by it.”
California and Nevada Credit Union Leagues President/CEO Diana R. Dykstra commented, “This is a very sad day for Nevada and the greater credit union community – Doug will be missed by all.”
John Lemich, owner of Machi's Saloon and Grill, was standing outside talking to customers when Schwartz left the establishment where he had dinner.
“He [Schwartz] turned over and said hello to me,” Lemich told the Elko Daily Free Press. “He never even stopped walking, but he turned, looked both ways, he looked at us and then looked down the street.”
At that point, Schwartz was struck by the Jeep Cherokee. Lemich said the driver did not slow down or stop, according to the newspaper.
Wahrenbrock said he spoke with Lemich Thursday.
“The guy was speeding way too fast for the area and was just reckless in the extreme,” he said. “Doug looked both ways and this guy ran him over. He just kept going and took off.”
Schwartz, who joined Elko in January 2013 as an EVP and chief commercial loan officer, succeeded EV “Kelly” Buckner as president/CEO of Elko on July 1, 2015.
Before joining Elko, Schwartz served as president/CEO of the $59.9 million Moapa Valley Federal Credit Union in Overton, Nev., from January 1994 to December 2012. Moapa Valley was merged into the $7.5 billion America First Federal Credit union in Riverdale, Utah in 2012.
Schwartz also worked as a credit supervisor for the $2.4 billion Idaho Central Credit Union in Chubbuck, Idaho from 1987 to 1993.
He is survived by his wife and four grown children, Wahrenbrock said.
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