Largest Credit Union in Austin Names New CEO

The UFCU board of directors said Wednesday Michael Crowl will become the next president/CEO of the largest financial cooperative in Austin, Texas.

He succeeds Tony Budet, who will retire next year. Crowl will assume the role of co-CEO on Oct. 1, reporting to the board of directors while retaining the title of president. After Budet retires in March, Crowl will continue as the sole president/CEO, UFCU said in a prepared statement.

Budet was named president/CEO in 2000. During his tenure, UFCU grew assets from $397 million to $3.9 billion, while loans increased from $248 million to $2.6 billion and membership expanded from 98,352 to 352,249, according to NCUA Call Reports.

Crowl, a CPA, joined UFCU in 2005 and has served as president since August 2021. He previously served as the credit union’s EVP of member experience, CFO, and as a senior manager in finance and analytics.

Before joining the credit union, he worked as a high school math teacher and cross-country and track coach, a CFO for a technology company and an investment banker for a super-regional investment banking firm, according to Crowl’s LinkedIn professional profile page.

“We are proud to appoint Michael Crowl as UFCU’s CEO and president,” UFCU Board Chair Cale McDowell said in a prepared statement. “The board of directors conducted a comprehensive national search with the assistance of a leading global executive search firm. Ultimately, the board concluded that Michael is the right person to lead UFCU into the future.”

UFCU’s 789 employees operate approximately 24 locations throughout the Austin market.