W.K. “Ike” Keener has retired after 38 years with the $991million Allegacy Federal Credit Union in Winston-Salem, N.C.

Keener, CEO for the past 16 years, will be succeeded effectiveMay 1 by Cathy Pace, Allegacy's current credit union divisionpresident. Keener will stay on as an adviser to help with thetransition and with planning and compliance.

“It has been a great run,” said Keener, who guided the creditunion's growth from Reynolds Carolina Credit Union to Allegacy, nowserving nearly 600 SEGs and 120,000 members through 17 financial centers.

Recent accomplishments under his tenure include the creation ofthe first high school student run credit union in North Carolina in2008, the first local corporate park dedicated to breast andovarian cancer survivors and the 2012 opening of the Center for Smart Financial Choices, a non-profit entity thathelps consumers learn to manage money, credit, debt and financialplanning, Allegacy said in its announcement on Thursday.

“I have great gratitude for all the people around me who helpedme get where I am today, particularly our membership, the board ofdirectors and all of Allegacy's employees. I am proud of what wehave accomplished together,” Keener said in the announcement.

“Ike has served Allegacy extremely well during his tenure andhas been instrumental to its success, innovation and culture,” saidAnn Johnston, board of directors' chair.

“Our board and the executive leadership team have laid out astrategic plan and vision for Allegacy that will guide us for manyyears to come. This along with Cathy's exemplary leadership givesus great confidence for Allegacy's continued success and ourmembers' financial opportunities,” Johnston said.

Pace will be the credit union's fifth chief executive in its 46years. She has been with Allegacy for 34 years and, like Keener,has been active in the community, including board positions withWake Forest Baptist Medical Center.

“Cathy is well-prepared to lead this organization,” said Keener.“She not only brings great energy and vision to the role, she hasestablished herself as a visible, well-known and respectedexecutive in the credit union industry and in the community.”

Pace said, “Allegacy and its employees have been my home andfamily for 34 years and I couldn't imagine a better opportunity forme.”