Due to the planned retirement of the credit union’s longtime President & CEO, Tricorp Federal Credit Union (tricorp.org) has retained S&W to lead the search and selection process for its next chief executive.
Tricorp is a member owned, member controlled, not-for-profit cooperative financial institution that exists to serve other natural person credit unions. Tricorp, and the other 10 corporate credit unions in the US, are credit unions for credit unions. Corporate credit unions were formed in the 1970’s as a solution to cashflow issues that credit unions were facing by aggregating their liquidity and creating a cooperative distribution system. While the suite of products and services has evolved over the ensuing years, the mission of these organizations remains the same, which is to add value to the nation’s credit union system and to maximize its returns to members. Headquartered in Westbrook, Maine, Tricorp serves a membership base of dozens of natural person credit unions across New England through the primary offerings of payment services, investment and liquidity solutions, and strategic alliances. The credit union is approximately $300MM in assets, not including off balance sheet assets, is in strong financial condition, and has one of the highest capital ratios of any corporate credit union. Tricorp has differentiated itself through exceptional service and responsiveness to its members by its knowledgeable and tenured staff.
Reporting to Tricorp’s Board of Directors, the President & CEO is responsible for the overall successful operation of the credit union. Success in the role of President & CEO will be measured against the deepening of relationships with existing members through the adoption of additional products and services, the retention of members and staff, and by identifying opportunities for growth through both the addition of new members and new solutions. This highly visible member of the credit union system should be recognized and respected by both members and nonmembers alike and by key constituents at the local, state, and national level. We are seeking well-rounded financial services executives who exhibit a strong member service orientation, financial and operational acumen across the key technical areas of Tricorp’s business model, and a passion for both maintaining and growing the institution. For additional information about this unique credit union leadership role, please contact a member of the S&W search team: Moriah Maron, Consultant (firstname.lastname@example.org) or Cameron Boyd, Managing Partner (email@example.com).