Mike Mercer Plans Earlier Than Expected Retirement as LSCU CEO
Mercer wasn’t expected to retire for another three to five years; Patrick LaPine will become league CEO on Jan. 1.
After being named the president/CEO of the League of Southeastern Credit Unions just a few months ago, Mike Mercer will be taking an earlier retirement by the end of the month, the LSCU board of directors saidThursday.
Mercer recently approached LSCU board leadership with a request to retire earlier than expected, though no specific reason for his request was given in a prepared statement. On Wednesday, the LSCU board of directors voted to accept his early retirement.
“It was always envisioned that Mike would retire within 3-5 years and that Patrick La Pine would once again assume the role of CEO of LSCU, in addition to his current responsibilities as CEO of Affiliates Consolidated Services, the league’s holding company,” Tina Williams said, LSCU’s board chair and president/CEO of the $87.2 million Mobile Educators CU in Mobile, Ala. “Mike’s decision has hastened the succession plan we had envisioned, but we have a proven leader ready to assume this role.”
Mercer served as president/CEO of the Georgia Credit Union Affiliates since 1985. When GCUA consolidated with LSCU earlier this year, Mercer became CEO of the merged organization.
“My decision to retire was one I weighed very carefully, and I am confident in Patrick’s leadership and vision for the future of the organization,” Mercer said. “My priorities have always been the credit unions that we serve and our incredible team of professionals that serve them. I am genuinely optimistic about the opportunities that will be enabled by this strategic consolidation.”
Mercer has agreed to remain with the LSCU through 2020 as a consultant to ensure a smooth transition through the LSCU’s first full year post-consolidation with Georgia. Although he will not be involved in the day-to-day operations of the league, he will assist in membership relations activities.
LaPine said the strategic consolidation is progressing as planned with increased value already starting to be felt by credit unions.
“Our team is incredibly dedicated and resilient, and we will continue to work hard to meet and exceed the expectations of our member/client credit unions,” LaPine said. “I want to thank Mike for his long and distinguished service to Georgia credit unions and the entire credit union movement.”