CUs in California, Oregon & New Jersey Appoint New CEOs

Credit unions in California, Oregon and New Jersey named new CEOs, and a 25-year CEO for a Washington credit union plans to retire.

Laura Campbell will become the next president/CEO of Farmers Insurance Group Federal Credit Union in Los Angeles, the board of directors said.

She will succeed Mark Herter, who plans to retire Jan. 1, 2019.

Herter joined the credit union in 1985 as EVP and was appointed president/CEO in 1996.

Under his 22 years of executive leadership, Farmers Insurance Group’s assets grew from $230 million to $835 million, while membership also grew from 27,000 to more than 50,000, as of March 2018. Herter also increased the number of full-time staffers from 80 to 194.

“Mark’s many contributions have helped to make the credit union one of the largest and best-capitalized employer-sponsored credit unions in California and the nation,” Scott Lindquist, board chair of Farmers Insurance Group FCU, said. “His commitment to the Farmers family and credit union members over the years has resulted in the outstanding position the credit union holds today.”

A 20-plus year veteran of the credit union, Campbell has held the role of president for four years.

Herter will transition his leadership role to Campbell in early August, remaining as a board advisor until his retirement date.

Rivermark Community Credit Union in Beaverton, Ore., said it appointed Seth Schaefer as president/CEO.

He succeeded Scott Burgess, who retired July 1.

Under his leadership since 2001, the credit union’s assets grew from $271 million to $849 million while membership increased from 45,757 to nearly 90,000. Burgess also increased the number of full-time staffers from 103 to 224.

Schaefer joined Rivermark in 2003 as a webmaster. From 2007 to 2012, he served as the credit union’s director of strategic initiatives and over the last seven years, Schaefer was Rivermark’s vice president of operations and chief experience officer.

The $201 million ABCO Federal Credit Union in Willingboro, N.J., selected Jill Peterson as its president/CEO.

She replaced Christine Dawe.

With more than 25 years of management experience in the financial services industry, Peterson served as director of business development for MemberFirst Mortgage LLC in Grand Rapids, Mich., where she implemented strategies that achieved corporate goals for account and product development.

Peterson also served as a regional sales director CU Members Mortgage in Dallas where she led a team of regional account executives who increased production and revenue for existing and new clients, according to ABCO’s prepared statement.

Terri Salstrom, president/CEO of the $245 million Industrial Credit Union in Bellingham, Wash., plans to retire.

Her successor has not been named.

Salstrom joined Industrial in September of 1982 and was appointed president/CEO in 1993.

Under her 25-year CEO tenure, the credit union grew its assets from $41 million to its current assets of $245 million, and membership grew from 9,323 to more than 26,000. She also increased the number of full-time staffers from 28 to 75.

Throughout her career, Salstrom helped advance the credit union movement through local, state and national advocacy initiatives, and she also served as a volunteer to support community needs.

“We are truly thankful for Terri’s dedication to the Industrial Credit Union members and as we look to the future, we are grateful for Terri’s leadership and commitment to the long-term success of our credit union,” Michael Ashby, board chair for Industrial, said. “We wish Terri a happy, healthy and well-deserved retirement.”