Ed Speed to Retire in October
This fall will bring a few changes in leadership at Texas DOW Employees Credit Union.
President/CEO Ed Speed has announced he will retire effective Oct. 1.
Executive Vice President/Chief Operating Officer Stephanie Sherrodd has been tapped as the new president/CEO of the $2 billion credit union.
For the past 10 years, under Speed’s leadership, the Lake Jackson, Texas-based credit union’s assets grew 300% from $700 million to $2 billion; loans grew 400% from $400 million to over $1.6 billion; membership grew from 68,000 to more than 170,000, and retail branches grew from two to 30 locations.
Sherrodd joined TDECU in 2004 as the vice president of branch administration, was promoted to senior vice president then to her current position in 2010. Prior to joining TDECU she was chief operating officer at Warren Federal Credit Union in Wyoming.
According to Speed, Sherrodd has been “destined to lead a giant credit union one day “ and he was pleased that credit union will be TDECU.
“It’s been an honor to work with Ed Speed these past eight years; he’s been a generous mentor and friend,” said Sherrodd. “I’m thrilled to continue our legacy of serving TDECU’s 170,000 members and 600 employees.”
Sherrodd was one of the first five women selected to kick off the Credit Union Times Women to Watch program in September 2011. Women to Watch shines the spotlight on influential, forward-thinking women reshaping the future of the credit union community.