Dennis Sommer has announced that March 1 will be his last day as president/CEO of the $197 million Alliance Credit Union in the St. Louis suburb of Fenton, Mo.
Sommer has been in the credit union industry for 40 years, the past 28 at the helm of Alliance CU, which was the $18 million Emerson Community CU when he took over in 1985.
“I truly appreciate the leadership opportunity that I was given. I’ve tried to make the credit union the best that it could be,” Sommer said. Originally serving primarily employees of Emerson Electric, Alliance CU now has more than 17,000 employees and six locations serving four counties each in Missouri and Illinois.
Sommer said first on his bucket list in retirement is to attend St. Louis Cardinals spring training in Jupiter, Fla.
“I’m happy to be leaving Alliance in excellent financial condition,” Sommer said. He is most proud of working through the challenges “of steering the credit union through some significant problems that existed when he was hired,” the credit union said in a statement.
Tim Stephens, former president of the $51 million Health Care Family Credit Union in St. Louis, recently joined Alliance CU as executive vice president. The 22-year credit union veteran will succeed Sommer as president/CEO.