CU Times Test article
Offering a seat at the table. Credit: David/Adobe Stock
After leading the largest credit union in Illinois for four years, Dennis Devine has left the CEO's office of Alliant Credit Union in Chicago, according to an Oct. 30 prepared statement.
Alliant's Chief Risk Officer Ken Schaafsma has been appointed interim CEO.
During Devine's four-year tenure, the credit union's assets increased from $13.5 billion in 2020 to $20.3 billion at the end of this year's third quarter, while loans grew from $9.1 billion to $14.4 billion, and membership expanded from 550,400 to more than 889,000, according to NCUA Call Reports.
For the first nine months of this year ending Sept. 30, Alliant posted an ROA of 0.57% compared with 0.43% a year earlier. Originations were $2.7 billion, -28.9%. It held $221.7 million in credit cards (+1.2%), and $912 million in car loans (-27.3%), according to NCUA financial performance reports.
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The credit union did not give any specific reason for Devine's departure. Alliant and Devine did not respond to a CU Times request for comment on Tuesday morning.
"We are confident in Ken's talent, experience, and abilities to lead us through this period, and we look forward to the next phase of Alliant's evolution," Alliant Board Chair David Leib said in a prepared statement. "We are grateful for the expertise and focus on performance that Dennis has brought to Alliant during his time leading our organization. We thank Dennis for his dedication and hard work."