Cheryl DeBoer, longtime president and CEO of Advia Credit Union in Kalamazoo, Michigan, will retire in early 2023.
The $2.7 billion-asset credit union has hired Humanidei to help find DeBoer’s successor, Advia said Thursday.
DeBoer has worked in the credit union industry for more than 40 years, beginning as a lobby greeter at a Co-Op Service Center in her hometown during high school. She has been Advia’s president and CEO since 2004.
She has helped grow the organization from one with eight branches and 52,000 members to 29 branches and nearly 190,000 members across Michigan, Wisconsin and Illinois today.
“We will greatly miss Cheryl and thank her for the incredible contributions she has made throughout her career to the credit union movement, and more importantly, the significant value for her membership and Advia employees,” Nicole Kalmbach, Advia’s chairperson, said in a press release. “Her dedication and passion in living out Advia’s core values and mission of providing financial advantages provides long-term benefits to those she’s worked with and members’ lives impacted during her leadership tenure.”
Advia ranks among the top 3% of credit unions in the U.S. by total assets. Part of that growth came from three
It is also one of the few credit unions that have bought multiple banks.
"Cheryl was a real pioneer in the nonorganic growth space and didn’t hesitate to make bold acquisitions. Advia is a stronger and more dynamic institution because of her leadership in this aspect,” said Mike Bell, an attorney with Honigman who represented Advia in the bank deals.
Advia earned $31.8 million in 2021, a 79% increase from a year earlier, according to call report data from the National Credit Union Administration.
