Financial credit

CEO of TruMark Financial Credit Union in Pennsylvania Retires | Credit Union Journal

Rick Stipa, president and CEO of TruMark Financial Credit Union in Fort Washington, Pennsylvania, has announced his intention to retire.

The credit union has hired D. Hilton Associates to conduct a nationwide search to find its next leader, TruMark said Thursday.

Stipa has worked in the credit union industry for over 28 years. He joined TruMark Financial Credit Union in 2001 as CEO.

“We want to thank Rick for all he has done for our credit union, our members and our community as CEO. Rick has been a truly inspirational leader and friend,” Len Doughty, chairman of the credit union’s board, said in a press release. “We wish Rick and his family all the best for all that lies ahead of us.”

Under Stipa’s leadership, the credit union has grown from $670 million in assets at the start of his tenure to nearly $2.8 billion and more than 130,000 members today.

“It has been a privilege to lead this organization. I am grateful for the support I have received from the board, management, staff and community during my tenure as CEO. I am confident that TruMark Financial Credit Union will continue to meet the needs of its members, staying true to the vision and founding principles of the credit union,” Stipa said in the press release.

TruMark Financial Credit Union was established in 1939; it was founded by some employees of Bell Telephone Company of Pennsylvania.

TruMark Financial earned $19.8 million in 2021, a 13% increase over the previous year, according to data from the National Credit Union Administration’s call report.