Members 1st Federal Credit Union of Mechanicsburg, Pa., announced that its longtime CEO Bob Marquette has died.
In response, the board of directors has appointed George Nahodil as acting president and CEO.
Under Marquette’s 31-year tenure as chief executive, the credit union saw its assets grow from $400 million to $3.6 billion, with 60 branches and more than 365,000 members. In addition, Marquette also helped grow the size of the credit union’s workforce from 150 associates in 1986, to more than 1,000 currently.
“We are all mourning the sad and sudden news of our leader’s passing,” Nahodil said in a statement. “While we continue to give Bob’s family our heartfelt thoughts and prayers -- as well as offering them respect and privacy -- we are currently planning a fitting tribute to Bob’s remarkable legacy at Members 1st FCU.”
John Devlin, chairman of the board of directors, assured that the credit union remains “financially strong” and that its executive leadership team is “very seasoned” with more than 75 years of combined tenure.
Members 1st generated net income of about $34 million last year, after recording $25.3 million in 2015.
