Tyndall Federal Credit Union is pleased to welcome John Parillo as their next President & CEO

Aug 14, 2024. In late 2023 the Board of Directors of Tyndall Federal Credit Union (“TFCU”) selected S&W to manage the search and selection process for the credit union’s next President & CEO in anticipation of the planned retirement of its longtime CEO, Jim Warren.  Following a period of meetings with the Board and market research to establish the ideal candidate profile, the search commenced in Q1 of 2024.  This national CEO search was managed by Moriah Maron, Consultant, and Cameron Boyd, Managing Partner.

Headquartered in Panama City, FL, TFCU is “a member-first not-for-profit credit union dedicated to making a meaningful difference in the lives of its members.”  TFCU’s original SEG was formed by civilians affiliated with Tyndall Air Force Base, which is home to the 325th Fighter Wing of the US Air Force and currently undergoing a $4.7B rebuild.  Today, the credit union’s community charter has expanded to include the people of the Florida Panhandle and southern Alabama and the low-income designation credit union now serves approximately 113,000 members.  TFCU has $1.9B in total assets, making it a top 20 credit union in Florida by asset size.  Despite its growth, success at the credit union has not historically been measured by asset size but instead by the ever-increasing value of membership.  Notably, TFCU has returned more profits to its members over the past five years than any other credit union in the country and in 2023 its giveback exceeded $23MM.  With the financial wellness of its members as a driving principle of the organization, the credit union’s dedicated team members are committed to an efficient operating model that allows them to “charge less, give more.”  TFCU offers consumer checking and savings solutions and home, auto, personal, recreational, and credit card loans through both a retail branch network and comprehensive suite of online and mobile solutions.  

TFCU’s Board of Directors was most interested in potential candidates whose past financial institution leadership roles best aligned with the organization’s existing operating model of driving profitability through managing efficiencies and leveraging technology and turning those profits into real value for its members.  After an extensive search and interview process, the Board ultimately selected John Parillo, who was serving as President & CEO of an approximately $800MM, greater Boston based credit union called Liberty Bay Credit Union.  Mr. Parillo’s early career was spent in retail, operations, and digital banking roles of increasing responsibility for two publicly traded, highly efficient, and profitable banks, East Boston Savings and Hingham Institution for Savings.  His first credit union leadership role was with Pima Federal Credit Union in Tucson, AZ as Chief Operating Officer, before becoming COO and ultimately CEO at Liberty Bay.  During his tenure at Liberty Bay, Mr. Parillo successfully transformed the credit union into one of the best performing in the state.  He is highly regarded within the industry and by peers for his leadership and intellect, with one of his references stating: “…he truly is rare.  He has this superpower where he’s truly a change agent…he looks at everything, talks to all of the people, gets buy-in and creates excitement and empowers people and gets them wanting to go in the direction they’re going.”  With personal connections in Florida, Mr. Parillo was motivated by the opportunity to live in the Emerald Coast region and to continue the good work being done at TFCU.