Former Tower Federal Credit Union President Robert Byroad has died at the age of 81.
Byroad started his lengthy career at the over $2.2 billion credit union in 1959 as office manager. At the time of his hire, Tower had two employees, approximately 3,000 members, and $400,000 in assets. Byroad was named general manager in 1978 and president in 1986. Under his leadership, Tower expanded from one on-base location at its Department of Defense sponsoring organization to a network of 12 branches both on-site and in the community.
When Byroad retired in 1994, Tower FCU was a full-service credit union with $620 million in assets and nearly 92,000 members worldwide.
Today, Tower has 16 branches, and more than 121,000 members.
Current Tower FCU President/CEO Martin Breland, credits Byroad for setting the foundation for Tower FCU's growth.
"A large part of Tower's success and strength is a tribute to Bob Byroad's many years of leadership, innovation and vision," Breland said.
Byroad was also an active force in the credit union movement and worked closely with NAFCU personnel to help define national credit union processes and procedures. Before coming to Tower, he assisted in chartering the Wheaton Co-op Federal Credit Union and served as treasurer. In addition, he was past president of the Maryland Credit Union League and the Metropolitan Area Credit Union Management Association.
Byroad is survived by his wife, sister, two children, five grandchildren and one great-grandchild.