Steven Schmidle

Officials with the $2.1 billion Westerra Credit Union in Denver said Thursday that its President/CEO Steve Schmidle has resigned.

Schmidle has been with the credit union for nearly six years and has served as acting president/CEO and president/CEO for almost two years. Before taking the helm, Schmidle was Westerra’s CFO.

According to a brief statement from Westerra, Schmidle will continue in the leadership position until April 30 to work with the Board of Directors “to ensure a smooth and seamless transition to new leadership.”

“A comprehensive Succession Plan is in place to ensure a timely and successful President/CEO transition,” the statement read.

When reached by CU Times for an explanation of Schmidle’s resignation, a member of Westerra’s public relations agency responded: “At this time, the specific details behind Steve’s decision to resign are private. We can confirm that he has made this decision to step down as President and CEO after six years of dedicated service, and Westerra appreciates his leadership during that time.”

The statement from the public relations firm also said, “Organizationally, Westerra is in strong financial standing and well-positioned for success.”

This appears to be true, at least according to the most recent NCUA financial report data through Dec. 24. During Schmidle’s tenure, the credit union secured $9.5 million in profits in 2023 and $5.5 million in 2024.

Previously, Schmidle served for 12 years at the Boulder, Colo.-based Elevations Credit Union, and before that at Park Side Credit Union in Whitefish, Mont.

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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.