He previously held executive roles at RBC, Canada's largest bank, including EVP of personal finance and head of U.S banking, chief strategy and corporate development officer, and founder of RBC Ventures.

Prior to RBC, he served in a variety of roles at Capital One in the U.S., ultimately serving as EVP of consumer banking.

"Following a rigorous and thoughtful search, the board is thrilled to welcome Mike to Alliant Credit Union," Alliant Board Chair Lee Achord said in a prepared statement. "Our objective was clear from the start: Find the right leader to propel Alliant's strategic growth while honoring the values and culture that make this organization so special. We are confident that Mike is the ideal choice to lead us into the next chapter."

As the largest credit union in Illinois, Alliant’s 871 employees serve more than 913,000 members nationwide as a digital-only financial institution.

"I'm honored to join Alliant at such an exciting time for the organization," Dobbins said. "I've long admired Alliant's reputation for innovation, service and member-centricity. I look forward to building on the strong foundation Ken and the leadership team have laid and working alongside the talented individuals across Alliant to shape the future of digital banking."

The board also expressed gratitude to Schaafsma for his leadership during his interim tenure.

"Ken guided the organization through a pivotal period with clarity, steadiness and deep care for our members and our people," Achord said. "Alliant is in a stronger position today because of his stewardship. We thank Ken for his continued service and are pleased that he will remain a key member of the executive team."

Peter Strozniak can be reached at [email protected].