Two Women Named to Take Over Billion-Dollar CUs in the West

Two longtime credit union executives have been appointed CEO of two billion-dollar credit unions in Texas and Arizona.

Margie Salazar will become president/CEO of FirstLight Federal Credit Union in February, the El Paso, Texas-based financial cooperative said Wednesday. And in Phoenix, Amy Hysell moved into the corner office of Arizona Financial Credit Union on Jan. 1.

Salazar will succeed Karl Murphy who plans to retire after 20 years of service as FirstLight’s CEO.

During Murphy’s tenure, the credit union grew assets from $422 million to $1.5 billion, while loans increased from $296 million to $1.2 billion, and membership expanded from 79,483 to 109,554, according to NCUA Call Reports.

Salazar has worked at the credit union for 25 years, starting her career as a teller while attending college.

She has worked as vice president of retail operations, vice president of lending, EVP of operations and chief retail officer, according to her LinkedIn profile page. Salazar currently serves as CFO.

“Margie is an accomplished leader with extensive experience in the financial industry. I have had the pleasure of working with Margie for many years and know she has the spirit and temperament to lead our credit union,” Murphy said in a prepared statement. “She understands the needs of our members, our employees and our community stakeholders. Margie is an innovator in the finance space and will thoughtfully guide FirstLight into the future.”

The credit union’s 341 employees operate 10 locations.

At Arizona Financial, Hysell succeeded Ron Westad, who served as CEO for 26 years.

During Westad’s tenure, the credit union increased assets from $408 million to $2.7 billion, while loans grew from $276 million to $1.3 billion, and membership expanded from 74,000 to more than 149,000, according to NCUA Call Reports.

Since joining the credit union in 1996, Hysell has served as vice president of IT operations and business analysis officer, a risk analysis officer and chief lending officer, according to her LinkedIn professional profile page.

Before becoming CEO, she worked as EVP/chief innovation officer for Arizona’s fourth largest credit union by assets.

“Amy’s contributions over the past three decades have been monumental in shaping Arizona Financial’s business operations and culture as we have continued to expand our footprint across the Valley and throughout Arizona,” Westad said in a prepared statement. “I cannot think of a more qualified and deserving individual to assume this role to lead this trusted financial organization into the future. The board of directors and I are confident that Amy will continue to build on the values that have been the foundation of our culture with a focus on doing what’s right for our member-owners, team members and the community.”

Arizona Financial’s 527 employees run 20 locations.