The board of directors of the $2 billion United Federal Credit Union in St. Joseph, Mich., announced the appointment of Terry O'Rourke Wednesday as its new president/CEO effective March 7.
O'Rourke (pictured) replaces current President/CEO Gary Easterling, who announced plans to retire last year.
"He (O'Rourke) will be a great leader for our team of employees as we seek and implement ways to enhance the financial experience of our members," Board Chair Mike Hildebrand said in a prepared statement.
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Bringing 25 years of leadership experience to UFCU, O'Rourke most recently served as CFO of the $4 billion Lake Michigan Credit Union in Grand Rapids.
O'Rourke said he gained respect for UFCU's staff and operation during a recent due diligence process when UFCU and Lake Michigan Credit Union were looking to merge last year.
In January, however, both credit unions called off the pending consolidation, which would have made LMCU the largest cooperative in the Great Lakes state and one of the top 20 credit unions by assets and members in the nation. Both credit unions said they mutually decided to remain independent.
"It all starts with people, and I have seen firsthand the strong commitment to members that exists at Team United," O'Rourke said. "I'm looking forward to working with UFCU's forward-thinking board of directors and the knowledgeable employees who work with members in the communities we serve every day."
Prior to joining LMCU, O'Rourke served as a CEO of an international manufacturing company with 700 employees. He also held executive positions with Kellogg, Steelcase, Bank of America and the former National City Bank, which was acquired by PNC Bank in 2008.
O'Rourke received an MBA in finance and corporate strategy from the University of Michigan-Ross School of Business, as well as an undergraduate degree from Western Michigan University.
Easterling said he is looking forward to retirement.
"I am leaving United in good hands with Terry," he said. "As the point person in the merger discovery process, we were able to see Terry's leadership style in action. This was a unique opportunity rarely available to companies searching for a new CEO."
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
