Va. League’s Pillow announces retirement in June 2021

September 2, 2020

Virginia Credit Union League President Richard D. “Rick” Pillow announced his plan to retire June 30, 2021, following a 40-plus-year career within the credit union system. Pillow has served as League president since 2000.

“CUNA, Leagues and credit unions congratulate Rick Pillow on his more than four decades of service with the Virginia Credit Union League. He will leave a legacy of dedication not only to the Virginia Credit Union League and its affiliated organizations, but to the credit union movement as a whole,” said CUNA President/CEO Jim Nussle. “During his more than 20 years leading the Virginia League he helped support changes to the state’s merger and field-of-membership laws as they were signed into law and founded the Credit Union House of Virginia. Nationally, he served on the CUNA, AACUL and Credit Union House Board of Directors.  His efforts have left the League and our movement in a better place and we wish him the best in retirement.”

The League Board will discuss how to proceed with the succession process, said Patsy Stuard, CEO of Fort Lee Federal Credit Union and Chairman of the Virginia Credit Union League Board of Directors.

“Anyone who has worked with Rick knows his passion for credit unions,” she said. “His leadership and vision helped us position the League as the voice, champion and premier resource for Virginia’s credit unions. Rick’s guidance, his knowledge of the system, and his enthusiasm will be missed, but he leaves a legacy of contribution and accomplishment that helped forge the League into the strong, stable, mission-focused organization it is today.”

Pillow’s career in credit unions began in 1978, when he was hired by the League to serve as a consultant to credit unions. For the next two decades, he would serve in various positions with the League, its corporate credit union, and with Martinsville DuPont Employees Credit Union.

In 1997, he was promoted to Executive Vice President of the League and succeeded Eugene H. Farley Jr. as League President on Jan. 1, 2000.

His career as League President saw:

  • The establishment of the Credit Union House of Virginia in downtown Richmond as a lobbying and operations hub; the evolution of the League’s advocacy infrastructure to better facilitate credit unions’ grassroots efforts, political fundraising and regulatory advocacy;
  • The launch of a host of new products and services within the League and its service corporation;
  • Formation of the League’s charitable foundation; and
  • The creation of TRGroup, a multi-League organization offering products, services and professional development opportunities to more than 700 credit unions.

“I’ve been honored to serve Virginia’s credit union system in one capacity or another for 42 years come next June,” said Pillow. “What a privilege it’s been to have known and to have worked with so many wonderful people over those four decades, and I’m grateful and humbled by the difference they made in my life on both a personal and professional level.

“I’m also incredibly proud of the many accomplishments of our League and our credit unions, and the work we’ve done together to advance Virginia’s credit union system,” he added. “That success is a testament to our extraordinary staff, to the tremendous support of our credit unions and to the passion of the many credit union volunteers who have given of their time and talents in service to the League and their fellow credit unions.”

Pillow also served on the CUNA Board of Directors, U.S. Central's Credit Committee, the American Association of Credit Union League’s Board of Directors (including chairman), and the inaugural Board of Directors of the national Credit Union House. 

“I appreciate the confidence the League Board has shown in my leadership these past two decades,” said Pillow. “From hard-fought battles in Richmond and Washington, to major fundraising campaigns for the Credit Union House of Virginia, it’s been a remarkable experience. As we move forward together over the next 10 months to ensure a smooth leadership transition, credit unions can rest assured their elected League Board and our dedicated staff remain committed to our mission to protect, promote and unify Virginia’s credit union system.”