Charles Bumbarger, president/CEO of University Credit Union in Los Angeles, has announced he is retiring at the end of the year after 37 years of service.

Bumbarger took the helm at UCU in 1976. At that time, the credit union managed $8 million in assets and seven employees, the credit union said. Under Bumbarger’s leadership, the credit union grew to $482 million in assets, 95 employees and 33,572 members.

 “I have truly enjoyed guiding the credit union for the benefit of our members,” Bumbarger said. “I am very proud of all the accomplishments and achievements of the credit union and the financial institution that it is today.”

UCU was chartered in 1951 by UCLA employees.

UCU’s board of directors has formed a search committee to hire a new president/CEO.