Dave Rhamy is retiring as president/CEO of Silver State Schools Credit Union in Las Vegas and is being succeeded by Andy Hunter, former president/CEO of the $3.6 billion Patelco Credit Union in Pleasanton, Calif.
Rhamy said he is leaving the credit union he's served since 1999. His resignation is effective July 11. He will continue to serve the struggling $720 million credit union in a consulting role while he concentrates on his law practice, Silver State Schools said.
Hunter retired from the $3.6 billion Patelco on May 1, 2009. He has more than 30 years of experience in financial institutions, including at Schools First FCU in Orange, Calif., and other credit unions and industry organizations.
Hit hard by the recession in Las Vegas, Silver State Schools posted its first profit in more than two years earlier this year and has received a $22 million cash infusion from its private insurer, American Share Insurance of Columbus, Ohio.
The credit union also has closed branches, limited share branching operations, cut pay and boosted its mobile offerings to attempt to save money and improve services.
“Silver State Schools Credit Union has endured tough economic times, but it’s a great credit union with an active, engaged board of directors and dedicated staff,” Rhamy said.
“We regret but support and understand Dave’s decision, and appreciate his leadership over the past 12 years,” said Terry Mannion, chairperson of SSSCU. “Under his direction, the credit union was able to manage through one of the nation’s most challenging economic downturns.”
Hunter, who assumes the top post on the day Rhamy retires, said, “I’m honored and excited to be selected to lead Silver State Schools Credit Union as we move ahead. I’m looking forward to the opportunity to work with our members, our staff and our board of directors.”
“With Andy’s deep experience and credit union knowledge, he is an excellent choice as our next CEO,” said Mannion. “His results-oriented management style is both forward-looking and responsive to members’ financial services needs. He will bring the right balance of strategy and leadership to guide the credit union at this time.”
