Two credit unions – a community institution in South Dakota and national organization based in California – announced new president/CEOs on Thursday and both promoted from within.
Steve Brandon has been promoted from chief operating officer at the $638 million Honda Federal Credit Union in Torrance, Calif., while Floyd Rummel III gets the stop spot at the $78 million Northern Hills Federal Credit Union in Sturgis, S.D., after serving as executive vice president and interim CEO.
Brandon has been with Honda FCU for 22 years and succeeds the retiring Jim Updike. Along with the expansion of rewards programs and electronic services for Honda employees and Honda dealers, Brandon has overseen the credit union’s branch expansion at manufacturing facilities in Ohio, Alabama, South Carolina and Indiana and its growth from $50 million in assets when he joined the credit union in 1991.
His appointment is effective April 1, Honda FCU said in its announcement.
Rummel is succeeding the retired Cindy Griffin at Northern Hills. He previously had been president of the $29 million Dakota Territory Federal Credit Union in Deadwood, S.D., where he was instrumental in implementing strategic growth plans and creating a successful service platform for the credit union, Northern Hills said in its announcement.
“Floyd brings extensive operations and financial management experience to the credit union and is just the individual to lead Northern Hills in its path of growth and development,” said Laurie Bedford, chairperson of the 9,300-member credit union that was chartered in October 1950 as Fort Meade Federal Credit Union and now is open to all residents of the Northern Black Hills communities.