“It’s hard to summarize the impact of Joe’s legacy at Nusenda. He leaves the credit union well positioned for the future thanks to his innovative and community-focused initiatives,” Nusenda Board Chair Ralph Wallace said. “During his five years as CEO, the credit union grew by over $2.5 billion in assets, added 11 branches, and expanded into Las Cruces and El Paso, Texas. His focus on exceptional service and a strong company culture has allowed us to deepen connections with our members and their communities while garnering frequent recognition from the community and the credit union industry.”

Nusenda is New Mexico’s largest financial cooperative, according to DepositAccounts.com.

“We are proud to promote from within, knowing that Michelle is deeply committed to positively impacting the lives of our members, employees and the communities we serve, and continuing to advance Nusenda as a leading credit union in the country,” Wallace said.

Dearholt joined Nusenda in 2007 as a human resources manager and advanced through the ranks, holding various chief and SVP leadership roles before serving in her current position as executive vice president of operations.

“She has been instrumental in modernizing Nusenda’s approach to leadership and employee well-being, ensuring exceptional member service experiences and leading several strategic initiatives,” the credit union said in a prepared statement.

Nusenda’s 884 employees run more than 30 locations and serve 277,205 members.

At Marine, Knothe will succeed Darrick Weeks, who will become the next president/CEO of the $1.9 billion Purdue Federal Credit Union in Lafayette, Ind., in January.

Knothe, a long-standing member of the Marine Credit Union board of directors, holds more 16 years of experience with the credit union, including serving as its interim CEO in 2021, according to the credit union’s prepared statement.

He served as dean of the Dahl School of Business at Viterbo University, also based in La Crosse. Knothe also was the dean of the university’s college of business, performing arts and leadership before becoming an associate professor and dean emeritus, according to Knothe’s LinkedIn page.

“Tom’s deep knowledge of our credit union’s mission and values, combined with his extensive experience developing leaders, makes him the perfect choice to lead Marine Credit Union into the future,” Marine CU Board Chair Anne Snow said. “We are confident that under Tom’s leadership, Marine Credit Union will continue to thrive and expand.”

Marine’s 409 employees operate 17 locations and serve more than 76,000 members.