Charles Bumbarger, president/CEO of the $482 million University Credit Union in Los Angeles, announced he is retiring at the end of the year after 37 years at the institution.Bumbarger took the helm at UCU in 1976. At that time, the credit union managed $8 million in assets and seven employees, the credit union said. Bumbarger grew the credit union to nearly one-half billion in assets, with 95 employees and 33,572 members.
“I have truly enjoyed guiding the credit union for the benefit of our members,” Bumbarger said in a release. “I am very proud of all the accomplishments and achievements of the credit union and the financial institution that it is today.”
UCU's board of directors has formed a search committee to hire a new president/CEO.
UCU was chartered in 1951 by UCLA employees. Membership eligibility has expanded to include employees and students at other Los Angeles-area universities, including Loyola Marymount University and Pepperdine University. Employees of the West Los Angeles VA Medical Center, located near the UCLA campus, are also eligibile.