Larry Sharp, the former 28-year president/CEO of the $855 million Arrowhead Central Credit Union in San Bernardino, Calif., died Monday at the age of 72.

Sharp passed away after battling colon cancer, according to The Press Enterprise, a Riverside, Calif.-based newspaper.

The California Credit Union League praised Sharp for his 45-year legacy of volunteerism and leadership that advanced the interests of the Golden State's credit union movement and the local Inland Empire community.

“I know many of you have had the privilege of knowing Larry throughout the years,” California and Nevada Credit Union League President/CEO Diana Dykstra, said in a statement. “He volunteered his time and served Arrowhead Credit Union, the community, and the credit union industry on the state and national level. His presence will be missed by many.”

Darin Woinarowicz, president/CEO of Arrowhead Central CU, said Sharp did so much good for the community and announced Wednesday that the credit union will honor his memory with a sizable contribution to a local foundation.

“I have known Larry to be an absolute gentleman who truly cared about his community, Woinarowicz said. “In acknowledgement, we will be making a $10,000 donation to Loma Linda Children's Hospital Foundation, where he served on the board.”

His long and distinguished credit union career, however, was blemished when Sharp was fired by the NCUA on July 14, 2010, along with three other executives, after the federal agency placed Arrowhead into conservatorship on June 25, 2010.

His dismissal became an industry-wide controversy when Sharp had objected to NCUA's intervention, which garnered the support of some industry leaders.

In an interview with CU Times, he acknowledged Arrowhead was struggling after the Inland Empire region suffered major job losses and home values plummeted. However, he said the credit union was on the road to recovery. The NCUA contended that Sharp's performance projections were too optimistic.

About two weeks after losing his job, Sharp was named to a two-year appointment as vice president for university advancement at California State University-San Bernardino where he led the school's University Advancement Division. He retired from that position in October 2012, according to The Press Enterprise.

After he retired, Sharp stayed in touch with his fellow credit union leaders and continued championing the industry's philosophy of people helping people, according to the California league.

He attended the California and Nevada Credit Union Leagues' 2014 Annual Meeting and Convention in October in Los Angeles. The league said Sharp was called on stage with fellow colleagues who were recognized in past years as winners of the Leo H. Shapiro Lifetime Achievement Award. Sharp received the league's highest honor in 2008, which recognized those who have made a lifetime of contributions to the credit union movement.

Sharp launched his credit union career in 1965, at the age of 23, when he was hired as the general manager at Solar Federal Credit Union. He spent 14 years there before becoming president/CEO of San Diego Navy Credit Union. In October 1982, he was hired as president/CEO of Arrowhead CU, then known as San Bernardino County Central Credit Union, according to the California league.

“Sharp distinguished himself as a pioneer in the industry, and his vision led to Arrowhead CU becoming a leading financial institution, benefiting its members and the community at large,” the California league said in a statement. “He was a dedicated volunteer and business leader who worked on issues ranging from educational and philanthropic opportunities, minority development, mentoring future leaders, economic development, transportation issues, and business expansion.”

Sharp also co-founded the Arrowhead Political Action Committee in 1996, which served as a model for other credit unions, according to the league. Additionally, his work with the World Council of Credit Unions helped promote credit unions throughout the world, especially in Mexico and China.

“The credit union movement has meant so much to me personally,” Sharp said in a league profile article. “I strongly believe in the movement and want to further it as much as possible. I have always felt that credit union leaders must participate not just in the operations of the credit union, but also in the community and in government affairs in order to make the voice of all credit union members heard.”

A memorial service will be held for Sharp at 10:00 a.m. Feb. 21 at the National Orange Show, 690 S. Arrowhead Ave., Gate 9-Renaissance Room, San Bernardino, Calif. 92408.

In lieu of flowers, donations are requested for the Larry Sharp Scholarship Fund for Renaissance Scholars at California State University, San Bernardino or for the Loma Linda Children's Hospital Foundation.

Instant Insights /

Former Arrowhead CEO Larry Sharp Dies: In Memoriam

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