John Cassidy will retire as CEO of Sierra Central Credit Union in Yuba City, California, effective Jan. 15.
The $1.4 billion-asset credit union said that its president, Ron Sweeney, will become the next CEO.
Cassidy, 61, has been the credit union’s chief executive since 2000.
“I am extremely proud that Sierra Central has become a dynamic presence in [Northern California], as well as a highly respected corporate citizen,” Cassidy said in a press release this week.
After being hired, Cassidy was tasked with establishing Sierra Central as a premier community banking institution in the region. At that time, the board was concerned that with so many local and regional banks being merged out of business, local communities would suffer significantly.
Cassidy said he will continue to work on charitable causes throughout the state, as well as regional economic development efforts that improve the quality of life for individuals, families and businesses throughout Northern California.
Sweeney, 58, previously worked for Travis Credit Union and the National Credit Union Administration before joining Sierra Central in 1999. He was hired as a consultant to rebuild and optimize the credit union’s accounting and finance functions and was later named chief financial officer.
In 2006, Sweeney took on the role of president and chief operating officer.
“John and I have built a successful organization, and I plan to carry on with our winning traditions and culture,” Sweeney said in the press release.
Sierra Central has 20 branches and more than 70,000 members. It reported earnings of $9.1 million in the first nine months of 2021, a 28% increase compared with a year earlier, according to call report data from the NCUA.
