The $197 million Missouri Corporate Credit Union announced a major leadershipchange Tuesday when CEO Dennis DeGroodt announced he will retire July 31. DeGroodt hasled the St. Louis-based corporate for 16 years.

“We are very sad to see Dennis retire,” said Dave Osborn,president/CEO of Anheuser-Busch Employees' Credit Union andchairman of the corporate's board. “He was been an outstandingleader and has guided us well through both calm and roughwaters.”

Kathleen “Kitty” Gray, current chief financial officer, willsucceed DeGroodt as CEO of the 157-member corporate, which countsmembers in Oklahoma, Illinois and North Dakota, in addition toMissouri.

Osborn said Gray has “been a wonderful CFO and we know she willprovide the necessary leadership to take the corporate into thefuture.”

Gray took the CFO position 14 years ago and has more than 16years of public accounting experience with major firms.

DeGroodt's credit union career began in 1978 as a volunteerboard member for the $258 million Missouri Credit Union, advancingto run a natural person credit union for eight years before movinginto corporate positions.

In between corporate jobs, he also ran his own consulting firm.He has served on the boards of both the Missouri Credit UnionLeague and the National Credit Union Foundation, and is a CreditUnion Development Educator.

DeGroodt leaves Missouri Corporate in good regulatory shapeafter successfully recapitalizing the institution following thecorporate crisis. According to its January 2013 5310 report,the most recent financials posted on the NCUA's website, MissouriCorporate reported capital ratios above NCUA requirements for awell-capitalized institution, and reported a retained earningsratio of 0.42%, just shy of the 0.45% that the NCUA will requirethis October.