Northwest FCU Names New CEO
Northwest Federal Credit Union’s board has promoted Jeff Bentley (pictured) to president/CEO, replacing Chris McDonald who left unannounced earlier this year.
Bentley, who has been serving as interim CEO for several months, was previously SVP of lending and chief lending officer, roles he has held since joining the credit union in 2014. Northwest FCU was the 57th-largest credit union in the nation in March based on assets.
Bentley introduced an indirect automotive lending program, “resulting in significant strategic growth for the credit union, as well as the Community Partners program, which has extended Northwest Federal’s philanthropic activities in the community. Under his leadership Northwest Federal has grown its mortgage lending program to a multi-state operation,” a credit union news release said.
Northwest FCU ($3.3 billion in assets, 243,365 members) was among 13 credit unions singled out by CU Times in July for strong, consistent growth in automotive lending. Its total auto loans grew from $263.7 million in 2012 to $1.1 billion by Dec. 31. In the six months ending June 30, its car loan portfolio grew a further 16% to reach nearly $1.3 billion, or 53% of total loans.
Bentley’s experience includes leadership roles at several credit union and banking institutions, as well as working with the NCUA to restore profitability to troubled credit unions.
“It is my privilege to serve as the CEO of Northwest Federal Credit Union alongside a team of dedicated employees working with a united goal to serve our members and communities,” Bentley said. “I am honored to continue to build upon this thriving organization that was formed over 70 years ago and excited for what the future has in store.”
McDonald (pictured), whose LinkedIn site says he left Northwest FCU in March, became the Washington-area credit union's CEO in 2013, when Gerrianne D. Burks retired after 41 years there. For the previous 12 years, McDonald led credit unions in Texas and Maryland.
Besides McDonald, Northwest FCU’s eight-member executive team of early 2016 has had two other departures: Kristin Shultz, who was SVP of operations; and Joanna Oliva, who was SVP and CFO. A fourth, Kevin Walrath, 52, who was SVP of enterprise risk, died Jan. 5.
Shultz’s LinkedIn page says she left Northwest FCU in August 2016, and since September 2016 has been COO at NRL Federal Credit Union ($466.5 million in assets, 23,888 members) in Alexandria, Va.
Oliva's LinkedIn page says she served as a consultant in southern California until June, when she joined Water and Power Community Credit Union in Los Angeles ($633.2 million in assets, 35,463 members) as CFO.
In April, Northwest FCU announced it had hired Joe Hasto as its new SVP and CFO. He has 23 years credit union experience, most recently as EVP and CFO of Elements Financial Federal Credit Union in Indianapolis ($1.4 billion in assets, 92,502 members).