Tom Dewitt
The third-largest credit union in Illinois, State Farm Federal Credit Union, announced Monday that its CEO Tom DeWitt will retire at the end of July after 31 years at the credit union.
According to a statement from the Bloomington, Ill.-based SFFCU ($5.6 billion in assets, 120,823 members), CFO Steve Gorrie will succeed DeWitt and become the next CEO on Aug. 1.
"Tom's servant leadership and his focus on supporting the SFFCU mission to improve the financial well-being of our members is his true legacy," SFFCU Board of Directors Chairperson Holly Roberts said. "He sees members and staff as his extended family, and anyone who knows Tom knows his commitment to family. Not only is SFFCU in a strong and secure financial position, but the positive work environment he has helped create resonates with both SFFCU staff and members alike."
During his time at SFFCU, DeWitt oversaw two consolidations and grew the credit union's asset size from $2.6 billion since the establishment of the current SFFCU structure in 2006. DeWitt has served on NAFCU's board of directors since 2014 and is currently its chairman.
According to SFFCU, Gorrie has been with the credit union for 13 years. During that time he has served as COO and has been the CFO since 2011.
Steve Gorrie Gorrie currently serves on the Illinois Credit Union League Service Corporation's board of directors and the NAFCU CFO Network Steering Committee.
"Steve is a seasoned leader and a familiar face to our members and staff. He brings a wealth of financial and industry experience and an in-depth understanding of the SFFCU mission, vision and values that will help lead us well into the future," Roberts said.
SFFCU has 136 employees with one branch located inside State Farm Insurance's headquarters in Bloomington, with members in all 50 states.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
