After 39 years of service at Teachers Credit Union, 23 as president/CEO, Richard Rice will retire effective June 25, 2011.
Under Rice's leadership, the South Bend, Ind.-based credit union has grown to over $1.9 billion in assets, the largest credit union in Indiana. Rice also serves as the Indiana Department of Financial Institutions board chairman.
TCU Senior Vice President Paul A. Marsh has been tapped to succeed Rice as president/CEO. Marsh, who began his career in 1989 in the finance and treasury departments at TCU, has also led marketing, retail and electronic service operations. Active in the community, he also serves on the Goodwill Board of Directors, Logan Center Foundation, the PHM Education Foundation board and the Workforce Investment board.
"I am honored and humbled by the Board's decision," said Marsh. "I will continue to uphold the commitment to serving the members of TCU focusing on providing preeminent products with the integrity that all TCU members have come to expect."