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Trailblazer Award: CFO Scott Waite’s Leadership Extends Beyond Patelco

The $3.9 billion Patelco Credit Union experienced its most profitable year in the Pleasanton, Calif.-based institutions 76-year history, with a $55.5 million net profit and 1.48% return on assets. In fact, last years earnings were more than the total of $37 million earned from 2005 to 2011 combined.

By Heather Anderson | Updated on February 27, 2013
When he's not behind his desk, Waite spends his free time logging flight time in pursuit of his private pilot's license.

The $3.9 billion Patelco Credit Union experienced its most profitable year in the Pleasanton, Calif.-based institution’s 76-year history, with a $55.5 million net profit and 1.48% return on assets. In fact, last year’s earnings were more than the total of $37 million earned from 2005 to 2011 combined.

Given the almost nonexistent investment margin and a still sluggish California economy that continues to suppress loan activity, those numbers alone would be enough to name Executive Vice President and Chief Financial Officer Scott Waite the winner of Credit Union Times 2012 CFO Trailblazer Award.

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