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.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.