The $1.8 billion Meriwest Credit Union announced Friday thatPresident/CEO Christopher Owen is retiring from the San Jose,Calif., credit union late this summer.

He will be succeeded by JulieKirsch, the 70,600-member credit union's current executive vicepresident and chief operating officer, Meriwest said in itsannouncement.

Owen has been with Meriwest for 22 years as it quadrupled insize from a single-sponsor credit union for IBM employees to amulti-community institution serving members around the SanFrancisco Bay area and in Tucson, Ariz., the credit union said.

“Chris' leadership of Meriwest over the years has beenimpressive, reorganizing the company, delivering growth, anddeveloping a clear forward strategy with a strong portfolio of newopportunities. I and the Board of Directors greatlyappreciate that Chris successfully navigated the credit unionthrough unprecedented economic challenges and is now leavingMeriwest on solid financial footing,” said Board Chairman CharlesMunch.

Kirsch has been COO since 1996and EVP since 2000 and has worked closely with Owen for a number ofyears to set the company's strategic direction, Meriwest said in the announcement.

“Our succession planning is developed to ensure Meriwest remainsa sound, healthy institution with relevant products that meet allthe financial needs of our members. I believe this mission will becarried forward under Julie's direction,” Owen said.