Bethalto, IL (January 14, 2013) – 1st MidAmerica Credit Union has announced that President & CEO Don Reedy will retire at the end of May this year, ending a 35-year career with the organization. The 1st MidAmerica board of directors has selected EVP/Chief Operating Officer Alan Meyer to be Reedy’s successor, effective June 1, 2013.
“I am grateful for the opportunity to lead 1st MidAmerica, and have enjoyed working with the employees who provide outstanding service to our members,” Reedy said. “1st MidAmerica will remain under excellent leadership with Alan Meyer.”
During his tenure, Reedy has overseen a vigorous expansion of services offered by 1st MidAmerica. Reedy joined the credit union – then Olin Employees Credit Union - in 1978 as a Collections Manager. At the time, the credit union had $15 million in assets and served 7,751 employees of Olin Corporation. 1st MidAmerica has since grown to $482 million in assets, with 175 employees and more than 45,000 members. 1st MidAmerica is the 5th largest credit union in the St. Louis metropolitan area.
Under Reedy’s leadership, 1st MidAmerica expanded from an employee-based credit union to one that extends open membership to residents in 16 Illinois counties and one county in Missouri. The credit union also expanded its services to include checking accounts, share certificates, a full range of mortgage loans, business services, and an investment program for members’ investment and insurance needs.
“It’s been an honor to have worked with Don over the past 23 years,” said Ted Klasner, 1st MidAmerica’s Chairman. “His focused leadership has made this organization such a success.”
Throughout his career, Reedy has garnered tremendous respect for himself and for the credit union. In 2011, he was inducted to the Illinois Credit Union League Hall of Fame. He was honored by the Riverbend Growth Association in 2012 for his work on behalf of the organization. Twice, the credit union was awarded a Captain of the Riverbend Award for its dedication to the community under Reedy’s leadership. And in 2012, the credit union was recognized with an honorable mention in the national Community Credit Union of the Year program.
Klasner added, “Looking forward, I speak for the entire board with confidence in welcoming Alan Meyer’s leadership as our incoming CEO.”
Meyer has more than 29 years of experience in the financial services industry. He has been part of the 1st MidAmerica management team since 2002, working closely with Reedy over the past 10 years.
Reedy and his wife, Judy of 44 years, plan to travel, golf, and enjoy their family during retirement.