Credit/Adobe Stock.
Security Service Federal Credit Union announced Thursday the retirement of President/CEO Jim Laffoon after more than 35 years of service.
Laffoon, who joined the credit union in 1989, held key leadership roles before being named president in 2012 and CEO in 2014.
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Under Laffoon’s leadership, the San Antonio-based Security Service grew to $14 billion in assets and became one of the nation’s largest credit unions. He also led the launch of Security Service Insurance and the Security Service Title Company, broadening the institution’s financial services offerings.
“It has been the honor of a lifetime to serve Security Service and our members,” Laffoon said. “I leave knowing the organization is in strong, capable hands.”
Laffoon also championed community initiatives, expanding the Volunteer Corps and Security Service Charitable Foundation, which have supported military families, seniors, youth and underserved communities across Texas, Colorado and Utah.
The Board of Directors announced that Mike Chapman, the current COO, will succeed Laffoon as president/CEO.
“Jim’s leadership has been a guiding force for Security Service for more than three decades,” Board Chairman Maria Langford said. “We are deeply grateful for his service.”
Chapman, who brings over 20 years of experience in financial services, said, “Jim’s leadership has been nothing short of transformational. I am honored to follow in his footsteps.”
The leadership transition is effective immediately.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
