Kim Sponem, president of the $1.4 billion Summit Credit Union, Madison, Wis., has been named CEO-designate making her at 43 one of the youngest women slated to hold the top slot at a major CU.
Sponem will succeed, effective Oct. 1, the retiring Andy Faust, the CEO whose tenure at the helm of the Wisconsin CU has spanned 35 years.
Faust's industry career began in 1976 when he was hired as a teller at State Capitol Employees Credit Union (which later became Summit Credit Union). Just five years after being hired as a teller, Faust was named President/CEO.
"Under Andy's visionary leadership, Summit has grown into a strong, full-service financial institution with more than 108,000 members," said Jim Hoelzel, board chair.
Sponem led Great Wisconsin Credit Union as President/CEO before its merger with Summit in 2008. Sponem joined Great Wisconsin Credit Union (formerly known as CUNA Credit Union) in 1995, and served as vice president of marketing and executive vice president before being appointed interim president/CEO in 2001 moving up to permanent status in 2002. .
Sponem was recently featured in Wisconsin business magazines as one of the state's leading female entrepreneurs.