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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.
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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."
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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.
