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MERRIFIELD, Va.-Brian McDonnell, former head of Navy Federal Credit Union, has stepped down from two key credit union volunteer positions. McDonnell had continued to serve as the Navy Federal’s treasurer and as a director-at-large on NAFCU’s board even after retiring as president and CEO of Navy Federal in 2005. He headed up the world’s largest credit union from 1996 through last year and had spent a total of 36 years at the $25 billion credit union. Current Navy Federal President and CEO Cutler Dawson commented, “During his time at Navy Federal, Brian built the strong foundation for our world-class credit union. We owe our current success to Brian and we go into the future well prepared due to his personal dedication and leadership.” McDonnell was a driving force behind such efforts as the relocation of Navy’s headquarters, the establishment of Navy Federal Financial Group, and the creation of a major call center in Pensacola, Fla., as well as serving in a variety of capacities at the credit union over the years. “NAFCU and credit unions owe a debt of gratitude to Brian for the in-depth understanding and principled approach that he brought to credit union issues,” NAFCU President and CEO Fred Becker said. “Through the years, Brian has had a profound impact on the credit union community, having helped to shape the legislative and regulatory environment, improve credit union operations and provide financial services to millions of credit union members.” McDonnell was first elected to NAFCU’s Board in 1997 and chaired Regulatory, Share Insurance, Liquidity and Development Fund Oversight, and the Ad Hoc Bankruptcy Committees. He was also a member of NAFCU’s Finance Committee and testified in Congress on behalf of NAFCU on critical issues, including bankruptcy reform.

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