BOCA RATON, FL (January 7, 2014) -- IBM Southeast Employees’ Federal Credit Union is pleased to announce that Michael Miller, a senior executive with 30 years of experience in the financial services sector, has been named as its new President and Chief Executive Officer.
Miller has assumed leadership of the $842 million IBM Southeast EFCU on January 1, 2014. IBM Southeast EFCU, one of the nation’s largest credit unions, is headquartered in Boca Raton, with branches in the South Florida and Atlanta, GA regions.
Miller steps into the top role following IBM Southeast EFCU’s year of improved earnings, a noteworthy accomplishment in the face of the nation’s slow financial recovery. The Credit Union posted a 9.22% net worth ratio at the close of November 30, 2013, which is considered “well capitalized,” according to the standard set by the National Credit Union Association, the regulatory agency for all credit unions.
“IBM Southeast EFCU has long been known as an innovative leader in the financial services industry and I am more than honored to join the trusted IBM Southeast EFCU Team,” Miller says. “I will be a diligent advocate for the safety and soundness of our Members’ financial well-being.”
Don L. Lee, Chairman of the Board at IBM Southeast for the past 16 years, said, “Throughout our nationwide search with JMFA Executive Search Group, Michael Miller stood out as a seasoned, trusted leader with a passion for serving Members. He possesses a balanced mix of leadership experience, proven and tested financial acumen and innovative thinking that will provide the blend of practical skills and vision we view as vital to the future of IBM Southeast EFCU.”
In its industry, IBM Southeast EFCU holds a unique position of consistent success. Lee points out that in 1983, there were over 22,000 credit unions. “Today, there are less than 7,000 credit unions in operation yet more people are being served as active members of credit unions today than ever before,” he said.
“IBM Southeast EFCU has thrived throughout 45 years of the nation’s economic ups and downs and ranks as one of the largest credit unions in the nation today,” Lee concludes. “We all are confident Michael Miller is the right individual to ensure that continuing legacy of greatness and we look forward to having him on board.”
Miller serves in many professional organizations. He is currently serving as a member of the Credit Union Executives Society and has been active in various community Boards. He enjoys participating in various fundraising events including Samaritan’s Feet, BackPack Attack and the Brownsburg Education Foundation. Additionally, Miller has a Bachelor of Science in Finance from Indiana University.
"It is truly an honor to succeed Lary McCants and build on the strong foundation he helped establish here. I look forward to working strategically with the dedicated staff and volunteers on the Board to best serve our Members," said Miller.
Michael and his wife, Dana will reside in Boca Raton, Florida, and have three children, Emily, Zachary, and Molly.
About IBM Southeast Employees’ Federal Credit Union
IBM Southeast Employees' Federal Credit Union, established in 1969, is one of the nation's largest Credit Unions with more than 70,000 Members worldwide and more than $800 million in assets. A Credit Union is a not-for-profit financial institution that is owned by its Members. Credit Unions generally offer high-yield deposits, low interest-rate loans and low fee structures. IBM Southeast EFCU offers a complete range of products and services including: Checking and Savings accounts, Money Market accounts, Certificates, IRAs, First and Second Mortgages, Car Loans, Visa® Credit Cards, Business Services, and much more.