During his tenure, the Monroe, Mich.-based credit union grew from eight employees, approximately 2,800 members and $4 million in assets to 68 employees, more than 30,000 members and $143 million in assets.
"I am extremely proud of the growth of the credit union while I have been CEO, particularly the three mergers we've executed and the construction of the main office on Telegraph Road that opened in 1997," Assenmacher said. "I am confident in the management team and our succession plan will ensure the continued high quality of service and products that meet the needs of the membership. I am thankful for the support and direction of our board of directors who are willing to adopt new services and implement cutting edge technology which only benefits our members."
So far his retirement plans include frequent family visits to the Assenmacher cabin and traveling.
MCCCU Executive Vice President/Chief Operations Officer Mike Newman will assume the position of president during the transition process and effective April 1, 2011, Newman will become the president/CEO.
Newman has worked at the credit union since 1983. A credit union veteran in his own right, he also is very active in state and national credit union committees and local community causes. He has served on numerous Michigan Credit Union League committees such as the Annual Meeting Committee and the Education Task Force. He currently holds an appointed seat on the MCUL Government Affairs Committee and the State Issues Committee representing credit union membership in both Lansing and Washington, D.C.