After 31 Years, Michigan One’s CEO to Retire; New Leadership Announced

Michigan One Community Credit Union CEO Tim Hemenway has worked at the Ionia, Mich.-based credit union since 1991. After more than three decades of service, the board of directors announced Hemenway’s retirement and the selection of the credit union’s new CEO Hailie Patterson, who will take over on Oct. 1.

Patterson has been with M1 for the past 10 years and, according to a statement from M1’s board of directors earlier this month, she completed more than a three-years-long “CEO Readiness Training” to prepare for the new position. The statement also said the credit union had been planning for Hemenway’s succession for nearly seven years.

Hemenway said he plans to stick around the central Michigan area where he will continue serving the community through various organizations.

“I grew up in Stanton, Michigan, but my wife Jane and I raised our family in Ionia. We call Ionia home,” he said.

Patterson, a lifelong resident of Ionia, has been M1’s COO since 2017 and has 15 total years of experience in the financial industry.

“I am proud and honored to lead M1 into the future,” Patterson said. “We have an amazing team of people who care about the work they do and make a positive impact on our members’ lives. With an outstanding team and a supportive and engaged board, I am looking forward to building on M1’s foundation of financial strength and exceptional member service, and leading M1 to continued success and growth.”