Indiana's Second Largest Credit Union Appoints CEO for 2023
Former NCUA Principal Examiner John Newett will take over the helm at Indiana Members Credit Union after Ron Collier retires.
John Newett will become the CEO of Indiana’s second largest credit union on Jan. 1, 2023.
He will succeed current Indiana Members Credit Union CEO Ron Collier at the end of this year, the board of directors announced last week. Collier initially announced his retirement last July.
In 1985, Collier joined IMCU as the training director and was promoted in 1992 to vice president of planning and administration before becoming CEO in 2003. During his executive leadership, the credit union’s assets grew from $762 million to its current $2.9 billion in assets, while its members expanded from 88,846 to 148,870, according to NCUA Call Reports.
Newett, who is serving as IMCU’s SVP of operations, was appointed president, the Indianapolis-based credit union said in a prepared statement. He joined IMCU in 2011 as director of planning and administration.
Newett previously served as the president/CEO of the $72.8 million Harvester Financial Credit Union in Indianapolis from 2000 to 2011, and he also worked as a principal examiner for the NCUA from 1995 to 2000.
“It gives me great pleasure to announce the appointment of John Newett as our new CEO,” IMCU Board Chair Robert E. Martin said in a prepared statement. “John’s dedication, leadership, strong financial background and proven success position him well for this role. Our board of directors is confident that John will continue to build on the IMCU legacy of member service, growth and success.”
IMCU’s 397 employees operate 33 locations across central and southern Indiana.