Jennifer Borowy, Michigan First Credit Union's chief operations officer, will take over as chief executive when Michael Poulos, the longtime CEO of the Lathrup Village, Michigan, organization, retires Oct. 14.
Poulos has been the CEO of the $1.5 billion-asset credit union for the past 22 years.
"It has been a blessing to have such an outstanding board of directors to work under, a fabulous group of leaders to serve with and a team that is second to none in serving our fellow human beings," Poulos wrote. "I owe a tremendous debt of gratitude to them for all the success we have experienced."
Borowy will be only the seventh chief executive in the credit union's 96-year history.
Michigan First Credit Union earned $8.3 million in the first six months of 2022, a 17% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.
