Truliant FCU Names Hall CEO

Todd Hall will become president/CEO of Truliant Federal Credit Union Jan. 1, the board of the Carolinas’ third-largest credit union announced Monday.

Current CEO Marc Schaefer will retire at year’s end after 24 years at Truliant’s helm and 33 years in the movement, including leadership in the campaign in the late 1990s that led to broader membership rules for credit unions.

Hall joined Truliant in 2012 as COO. In early 2018, the board split Schaefer’s job, promoting Hall to president and leaving Schaefer as CEO. As COO, Hall was credited with streamlining Truliant’s processes and systems to simplify and enhance the member experience at its branches, call center and digital channels.

Hall received his bachelor’s degree from the University of South Carolina in 1986, and his master’s degree in business from Wake Forest University in 1998.

Hall said Schaefer has advanced both Truliant and the credit union movement as a whole.

“He has labored tirelessly to create a unique organization that people love, and consistently taken it to greater heights,” Hall said. “An outstanding leader, we applaud Marc’s vision, his imprint on advocacy, culture, community and growth, as well as his work as a champion for credit unions worldwide.”

Schaefer joined the credit union in 1995 having previously served as president/CEO of FDIC Employees FCU, which is now NASA Federal Credit Union, Upper Marlboro, Md. ($2.8 billion in assets, 162,853 members).

Truliant Board Chairman James (Jimmy) T. Flythe, Jr. said Schaefer built a model grassroots political involvement program at Truliant. It created lasting relationships with state and federal legislators and continues to serve as a model to the credit union industry today.

Schaefer helped lead the multi-year fight to modernize credit union membership rules in the late 1990s. He helped build support for the passage of HR 1151, the Credit Union Membership Access Act in 1998. The law codified membership rules at a national level following a lengthy court battle.

Under Schaefer, the credit union’s name changed to Truliant from AT&T Family Federal Credit Union, and its assets grew six fold. It now has 33 branches in North Carolina, South Carolina and Virginia.

As the third-largest credit union by assets in the Carolinas, Truliant is behind State Employees’ Credit Union of Raleigh, N.C. ($40.3 billion in assets, 2.4 million members) and Coastal Federal Credit Union of Raleigh ($3.3 billion in assets, 261,316 members). It is just ahead of Founders Federal Credit Union of Lancaster, S.C. ($2.5 billion in assets, 219,484 members).