Stephanie Sherrodd, president and CEO of Texas Dow Employees Credit Union in Lake Jackson, Texas, has announced her plans to leave the credit union at the end of April.
Sherrodd has spent nearly 17 years at TDECU, where she has been CEO since 2012. She is leaving to pursue other opportunities, according to a press release.
"I feel fortunate to have served the TDECU board of directors, employees and members these past years, and am proud of our team's unwavering commitment to our credit union mission and our community,” Sherrodd said in the release. “I am grateful for the relationships, and the partnerships that have allowed our team to deliver on the growth and success of our credit union. Thank you to the community of Lake Jackson who have embraced my family – we look forward to our next chapter and the future."
Isaac Johnson, SVP and chief administrative, legal and diversity officer, has been appointed interim CEO, effective immediately.
“We are confident Isaac is the right leader to ensure business continuity for our members and employees as we engage in a formal search for our next CEO,” Dick Smith, chairman of the TDECU board, said in the release. “While change is never easy, we are excited to see what this new chapter holds for our credit union as we continue to provide the resources our members need to improve their lives through growth, innovation and digital transformation.”
TDECU holds $4.1 billion of assets and serves over 354,000 members. Call report data from the National Credit Union Administration shows earnings of $30.4 million last year, a 23% improvement over 2019, driven in part by a nearly 20% jump in mortgage balances and over $25 million in loans through the Paycheck Protection Program.
