After 14 years of service, Stanford Federal Credit Union CEO John R. Davis will retire effective May 14.
Among his many accomplishments over the years, Davis is credited with helping the Palo Alto, Calif.-based credit union grow from $160 million to over $1 billion in assets. He was also instrumental in the development of a wide range of innovative banking programs and services, including a debit card program with free rewards, relationship checking with tiered benefits, commercial lending programs, Stanford FCU's popular Beat the Rate program, designed to beat the advertised CD rates of other California providers, and a member loyalty program that rewards members for their participation in Stanford FCU. Other key events during his tenure include rolling out current technology such as mobile banking and MyMo, the credit union's newest online account aggregation and budgeting tools and remote-deposit capture for business accounts.
Joan Opp, former Texas Trust Credit Union executive vice president and chief operating officer, has been tapped to succeed Davis as the new Stanford president/CEO. She brings 15 years of executive level management and accounting experience to the credit union.
Upon retirement, Davis plans to travel with his wife Patricia, and spend time with their children and grandchildren who reside in Southern California and Colorado.