Industry Icon Ed Gallagly, Former floridacentral CEO, Passes
Gallagly passed away at the age of 72 after an 18-month battle with liver cancer. He was one of the founders of the Filene Research Institute and served on the Research Council from 1990-1996.
He served on the board at PSCU Financial Services, was a delegate to the World Council of Credit Unions for 30 years, served as chairman of the Florida Credit Union League, was a CUNA director and was a director of South East Corporate Credit Union from 1977 to 1980. Gallagly also won the Herb Wegner Award for Individual Achievement in 1988 and won the CUES CEO of the year award. He was inducted into the Florida Credit Union Hall of Fame in 1997.
"He was wonderful to work for. He strongly supported and upheld the philosophy of credit unions," said Laida Garcia, executive vice president at floridacentral.
One of the many things Gallagly was passionate about was fighting to protect consumers from payday lenders and check cashers. In 1997, he wrote a book, Fair Deal, that offered credit union alternatives to fringe banking abuses.
"He was a first mover and champion for seeking innovative ways to serve the underserved and under banked. Ed was a life long learner who not only appreciated the power of reading and research, but also, enjoyed experiences and learning about other cultures and countries in his many travels around the world. He was one of the first groups of credit union executives to visit China over 20 years ago since the country started to open it borders," said Mark Meyer CEO at Filene.
Gallagly started his credit union career in 1965 when he left his bank executive position to become the manager of a small credit union.
During his tenure as CEO at floridacentral, Gallagly helped the credit union grow from $460,000 in assets to $260 million with eight branches and from 1,100 members to 37,000 members.
With the credit union serving all social economic backgrounds and the majority of members being of low-to-moderate income levels, Garcia said that Gallagly was focused on improving all members financial well-being and making sure every product and service brought value to members.
"He put the needs of members first and made sure the credit union had a family atmosphere. He was a firm believer that employees are a credit union's strongest asset."
Gallagly is survived by his wife of 27 years, Donelda, his four children, nine grandchildren and two sisters. The family asked that those wishing can make donations to LifePath Hospice, 12973 N. Telecom Pkwy., Temple Terrace, FL 33637 in his memory.