Don Reedy, CEO/president of the $482 million 1st MidAmerica Credit Union in Bethalto, Ill., will retire June 1, ending his 35-year career with the credit union.
“I am grateful for the opportunity to lead 1st MidAmerica and have enjoyed working with the employees who provide outstanding service to our members,” Reedy said.
Reedy will be succeeded by Alan Meyer, COO/executive vice president, announced 1st MidAmerica CU’s board of directors. Meyer has more than 29 years of experience in the financial services industry. He has been part of the 1st MidAmerica management team since 2002, working closely with Reedy over the past 10 years, the credit union said.
Reedy joined the credit union – then Olin Employees Credit Union – in 1978 as a collections manager. At the time, the credit union had $15 million in assets and served 7,751 employees of Olin Corp. 1st MidAmerica has since grown to $482 million in assets and serves 45,000 members. 1st MidAmerica is the fifth-largest credit union in the St. Louis metropolitan area.
Under Reedy’s leadership, 1st MidAmerica expanded from an employee-based credit union to one that extends open membership to residents in 16 Illinois counties and one county in Missouri. The credit union also expanded its services to include checking accounts, share certificates, a full range of mortgage loans, business services, and an investment program for members’ investment and insurance needs.
In 2011, Reedy was inducted to the Illinois Credit Union League Hall of Fame. He was honored by the Riverbend Growth Association last year for his work on behalf of the organization.
Twice, the credit union was awarded a Captain of the Riverbend Award for its dedication to the community under Reedy’s leadership. And in 2012, the credit union was recognized with an honorable mention in the national Community Credit Union of the Year program.
Reedy and his wife of 44 years, Judy, plan to travel, golf, and enjoy their family during retirement, the credit union said.