Stan Hollen, president/CEO of CO-OP Financial Services in Rancho Cucamonga, Calif., willretire in May, the CUSO's board of directors said Tuesday.

“Stan is one of the true giants of the credit union movement,and under his leadership CO-OP Financial Services has grown toservice more than half of all credit unions in the United States,”Doug Ferraro, CO-OP's board chair and president/CEO of the $3.4billion Bellco Credit Union of Greenwood Village, Colo., said. “Weare making his retirement plans known to the industry five monthsin advance in order to ensure a smooth CEO recruitment process andtransition.”

Some of Hollen's most recent accomplishments include uniting themanagement and branding of the industry's shared branching networkthat now accounts for more than 5,400 locations, building up theCO-OP's ATMs network to 30,000, adding a member-facing telephoneand online lending and member service call center and expandingCO-OP business lines to include emerging mobile-virtual paymentservices.

Hollen's official retirement date is set for May 31. It willfollow the CUSO's 2016 annual meeting of shareholders from May 3 to6 during the CO-OP-sponsored THINK 16 Conference in Coronado,Calif.

“I have had a wonderful career in the world's greatest field offinancial service – the credit union movement,” Hollen, who joinedCO-OP in June 2005, said. “During the next five months, I will beworking closely with the board, our executive management team andbusiness partners to make sure we continue to meet and exceed theexpectations of our 3,500 clients and 1,200 shareholdinginstitutions.”

His 11 years with CO-OP caps a career in the industry thatspanned more than 45 years, as he joined the board of his localcredit union when he was 19 years old.

Prior to joining CO-OP, Hollen served as vice president for the$5.1 billion CEFCU in Peoria, Ill.; president/CEO of LibertyEnterprises, Inc. in Mounds View, Minn.; and president/CEO for the$9.5 billion The Golden 1 Credit Union in Sacramento, Calif.

Ferraro said he anticipates the CO-OP board will have selected a successor by May.

The executive search firm Korn Ferry was retained to conductrecruitment.

“Our goal is to identify candidates whose experience and skillsare aligned closely with our strategic objectives heading into2016, maximizing continuity, growth and outstanding clientservice,” Ferraro said.

He noted CO-OP continues to show strong growth with total assetsup by 18%. Shareholders' equity increased by 21% whilecomprehensive income leaped 113% for the first three quarters of2015, compared to last year.