New CEOs announced. (Source: Shutterstock)
Charles Friederichs is the new president and CEO of Melrose, Minn.-based Central Minnesota Credit Union, according to a press release from the financial cooperative.
Friederichs has been the credit union's interim CEO since October 2018. Prior to that, he was its chief operations officer and chief financial officer. He has been with Central Minnesota Credit Union, which has $1.1 billion in assets and about 63,000 members, for over 11 years.
"We are very excited for Charles to continue his tenure at the credit union as president and CEO," board chair Mark Meyer said. "We greatly value Charles' role in our success and are impressed with what he has achieved during his time at Central Minnesota. After conducting an extensive nationwide search we are more confident than ever that he is the best individual to lead Central Minnesota Credit Union. We look forward to seeing the continued growth and success of the credit union under his leadership."
Prior to joining the credit union, Friederichs was SVP and chief information officer at The Fauquier Bank. He also worked in information technology at MetaBank and First Federal Savings Bank of the Midwest after spending 10 years as an examiner for the FDIC. Friederichs has a Bachelor of Science in Finance from Moorhead State University in Moorhead, Minn. His career in the financial service industry spans about 30 years.
"To say I am honored is an understatement," Friederichs said. "I have spent the past 11 years preparing for this opportunity and I am humbled the board has placed their confidence in me to lead this organization and continue serving the membership and the community at Central Minnesota Credit Union."
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