John Bagents
The Las Vegas, Nev.-based WestStar Credit Union's board of directors announced Tuesday that John Bagents will become its new president/CEO. He will take over for Rick Schmidt, who announced his plans to retire in January 2023.
In May, Schmidt announced his plans to retire from the credit union after serving 13 years as its leader. On Tuesday, WestStar's Board Chairman Craig Hawkins said, "It is with deep regret that the board of birectors of WestStar Credit Union has accepted and acknowledged the desire of Rick Schmidt, the current president and CEO, to retire. He has indicated that he plans to spend more time with his family as well as enjoy some leisure activities with his new free time. He has led the credit union through some tough times and has kept WestStar a safe and sound financial institution. We thank him for his dedication and all his years of service to WestStar Credit Union.
"Concurrently, on behalf of the board of birectors for WestStar Credit Union, I wish to welcome John Bagents as our new president and CEO. We look forward to having him join our management team to continue growing WestStar in the Las Vegas and Reno gaming communities. We believe his experience and expertise will help accomplish our goals."
In a statement, Schmidt said, "I have loved working with the members and staff of WestStar for the last 13 years. While I am excited about the next phase of my life, I will always care deeply about WestStar and its people. I am very confident that John will do an outstanding job in leading the credit union to greater heights and success in the future. I wish him and WestStar nothing but the best for the bright future ahead of them."
During his executive tenure, WestStar grew its assets from $135 million in assets to its current assets of $265 million.
Schmidt played a critical role in helping the credit union survive the Great Recession and its membership endure the pandemic.
Schmidt also was the recipient of the Nevada PAC Advocate of the Year award on two different occasions and the Distinguished Service Award from the Nevada Credit Union League.
Prior to joining WestStar, Schmidt held more than 30 years of experience in the financial services industry, including 28 years with credit unions.
According to WestStar, Bagents has been the CEO of County Schools Federal Credit Union since 2014 and was previously a federal examiner with the NCUA.
Bagents said, "It is clear that WestStar Credit Union is a special place with a great team! The credit union has proven its reputation for serving and prioritizing members during the pandemic, and I am committed to continuing serving our team, members and community. I appreciate the opportunity to serve as the next CEO of the gaming industry's credit union and look forward to becoming part of the Las Vegas and Reno communities."
This search for WestStar's new CEO was completed in partnership with Humanidei.
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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.
