John Cassidy will retire as CEO of Sierra Central Credit Union in Yuba City, Calif., Effective January 15.
The $ 1.4 billion-asset credit union has said its chairman Ron Sweeney will become the next CEO.
Cassidy, 61, has been the general manager of the credit union since 2000.
âI am extremely proud that Sierra Central has become a dynamic presence in [Northern California], as well as a well-respected corporate citizen, âCassidy said in a press release this week.
After being hired, Cassidy was tasked with establishing Sierra Central as a leading community banking institution in the region. At the time, the board feared that with so many local and regional banks merging their businesses, local communities would suffer greatly.
Cassidy said he will continue to work on charitable causes statewide, as well as regional economic development efforts that improve the quality of life for individuals, families and businesses in Northern California.
Sweeney, 58, previously worked for Travis Credit Union and the National Credit Union Administration before joining Sierra Central in 1999. He was hired as a consultant to rebuild and optimize the accounting and finance functions of the credit union and then went on to was appointed Chief Financial Officer.
In 2006, Sweeney assumed the role of President and Chief Operating Officer.
âJohn and I have built a successful organization and I plan to continue our winning traditions and culture,â Sweeney said in the press release.
Sierra Central has 20 branches and over 70,000 members. It reported a profit of $ 9.1 million in the first nine months of 2021, a 28% increase from the previous year, according to data from the NCUA’s appeal report.