RANCHO CUCAMONGA, Calif. (1/13/16)--Stan Hollen, president/CEO of CO-OP Financial Services, will retire May 31, the company announced Tuesday.
The CO-OP board is conducting a search for Hollen’s successor. Hollen will continue to provide strategic support to the CO-OP board and the new president/CEO after stepping down.
“Stan is one of the true giants of the credit union movement, and under his leadership CO-OP Financial Services has grown to service more than half of all credit unions in the United States,” said Doug Ferraro, CO-OP board chair, and president/CEO, Bellco CU, Greenwood Village, Colo. “We are making his retirement plans known to the industry five months in advance in order to ensure a smooth CEO recruitment process and transition.”
Added Hollen: “I have had a wonderful career in the world’s greatest field of financial services--the credit union movement. During the next five months, I will be working closely with the board, our executive management team and business partners to make sure we continue to meet and exceed the expectations of our 3,500 client and 1,200 shareholding institutions.”
Jim Nussle, president/CEO of the Credit Union National Association, commended Hollen for his leadership of the credit union service organization and his decades-long support of the credit union movement.
Ferraro anticipates that the CO-OP board will have selected a successor by May. The executive search firm Korn Ferry has been retained to conduct recruitment. “Our goal is to identify candidates whose experience and skills are aligned closely with our strategic objectives heading into 2016, maximizing continuity, growth and outstanding client service,” Ferraro said.
Hollen joined CO-OP in June 2005. Within a year of his arrival, in May 2006, CO-OP Network was renamed CO-OP Financial Services.
Prior to CO-OP, Hollen served as vice president with CEFCU, Peoria, Ill.; and president/CEO of both Liberty Enterprises Inc. in Mounds View, Minn., and Golden 1 CU in Sacramento, Calif. His 11 years with CO-OP caps a career in the industry spanning more than 45 years. He joined the board of his local credit union when he was 19 years old.