Rick Stipa, president and CEO of TruMark Financial Credit Union in Fort Washington, Pennsylvania, has announced his plans to retire.
The credit union has hired D. Hilton Associates to conduct a nationwide search to find its next leader, TruMark said Thursday.
Stipa has worked in the credit union industry for more than 28 years. He joined TruMark Financial Credit Union in 2001 as its CEO.
“We’d like to thank Rick for all he has done for our credit union, our members and our community as CEO. Rick’s been a truly inspirational leader and friend,” Len Doughty, president of the credit union’s board, said in a press release. “We wish Rick and his family all the best for whatever lies ahead.”
Under Stipa’s leadership, the credit union went from $670 million of assets at the start of his tenure to nearly $2.8 billion and more than 130,000 members today.
“It has been a privilege to lead this organization. I am grateful for the support shown to me by the board, managers, staff and community during my time as CEO. I have great confidence that TruMark Financial Credit Union will continue to serve the needs of its members, staying true to the credit union’s vision and founding principles,” Stipa said in the press release.
TruMark Financial Credit Union was formed in 1939; it was founded by a few employees of Bell Telephone Company of Pennsylvania.
TruMark Financial earned $19.8 million in 2021, a 13% increase from a year earlier, according to call report data from the National Credit Union Administration.
