The $149 million Peninsula Credit Union in Shelton, Wash., has named veteran credit union executive Jim Morrell as its new president and CEO.

Morrell has been at the $450 million iQ Credit Union in Vancouver, Wash., for the past 14 years, most recently as senior vice president of support services.

At Peninsula CU, he succeeds Steve Gorseth, who will be retiring in June, the 18,000-member credit union said.

Peninsula CU said it has opened two new branches and will soon be adding shared branching and has grown substantially in the past six years in its West Puget Sound base.

“Along with the tremendous staff at Peninsula CU, I look forward to the opportunities to serve our members and the communities across the Olympic Peninsula as the financial advisors people look for in a trusted financial institution,” Morrell aid.

Morrell has a long history of industry involvement and recognition. He is a past chair of the CUNA Technology Council and also has been on user boards for Online Resources Inc. and Symitar.

He also has served on the Northwest Credit Union Association's Future Leaders Task Force and the Filene Research Institute's i3 Group.

He was named 2010 Distinguished Credit Union Professional of the Year by the Washington Credit Union League, and the 2008 Information Technology Executive of the Year by Credit Union Times.

Morrell has a bachelor's degree in economics from Pacific Lutheran University in Tacoma, Wash., and a master's degree in management from Willamette University in Salem, Ore.

Away from the office, he also is a veteran college basketball referee.

Instant Insights /

Jim Morrell Named CEO at Peninsula Credit Union

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