Doug Wright Appointed Next CEO of Mission Fed Credit Union
He will succeed Debra Schwartz, who bids farewell in March 2024.
Doug Wright will become the next president/CEO of Mission Fed Credit Union in San Diego, Calif., on March 1, 2024, the board of directors said.
He will succeed current President/CEO Debra Schwartz, who is retiring after nearly 17 years of service.
Schwartz joined Mission Fed in 2007 as an EVP. After serving as interim CEO in 2008, Schwartz was named president/CEO. During her tenure, the credit union grew assets from $1.8 billion to $6 billion and increased loans $1.2 billion to $4.3 billion, while membership expanded from 127,000 to more than 300,000, according to NCUA Call Reports.
The proudest moment in her career, Schwartz recalled, was the credit union’s initiatives to support employees and San Diegans during the pandemic.
With the generosity of its members and the San Diego community, and in less than 60 days, Mission Fed raised and donated $680,342 for local nonprofit organizations caring for the most vulnerable community members in 2020.
What’s more, during Schwartz’s leadership, Mission Fed has contributed more than $1 million annually to the community over several years.
“My decision to retire did not come lightly, but I believe true leadership is about knowing when it’s time to pass the torch,” Schwartz said in a prepared statement. “Success is doing a job you love with people you enjoy, and by any measure, I’ve achieved that. It’s been an honor and privilege to work with our team and the San Diego community – and our shared values at Mission Fed will continue to drive success for our members and the community at large.”
Mission Fed’s 664 employees operate 34 branches and headquarters in San Diego county.
Wright joined Mission Fed in 2016 as its CFO and holds more than 25 years of experience in commercial community banking. Before joining the credit union movement, he worked as CFO at Silvergate Bank and Intermountain Community Bancorp, and served as an SVP and production manager for Sterling Savings Bank, according to his LinkedIn page.
“We applaud Debra on her retirement and have immense gratitude for her dedication and services to Mission Fed and to our community,” Board Chair Don Shelton, Ph.D., said. “The legacy she is leaving and the culture she has built is unmatched in the industry. We have full confidence that Doug is the right person to lead Mission Fed into this next chapter and we know members, employees and the community will continue to be supported by Mission Fed for generations to come.”