Patrick Totten is the new president/CEO of the $73 million Miami Firefighters
Federal Credit Union effective June 1.
Totten has a long history in the financial services, including employment as senior vice president-member services at Tropical Financial Credit Union, senior vice president retail banking for Fleet Financial Group and as president of Intercontinental Warranty Services Inc., a specialty insurance vendor serving the credit union industry.
Totten succeeds Grant Sheehan, who had been with the CU for more than 20 years first as a director and then as CEO. Sheehan left Miami Firefighters FCU in February 2009. The departure was amicable and resulted from the board's decision "to seek new ideas and new leadership going forward," according to the CU.
Following Sheehan's departure, the board named its chief operating officer, Stephen Hodapp, as interim CEO pending its search for a qualified candidate. Hodapp was one of several candidates considered. He left a few weeks ago following the selection of Totten and his departure, too, was amicable, according to the CU.
The board conducted a lengthy executive search before selecting Totten and "is confident that he has the background and skills necessary to effectively deal with the financial challenges facing all credit unions in the current regulatory environment."
Founded in 1935 by 28 firemen, Miami Firefighters FCU now serves more than 5,600 members.