BETHALTO, Ill. 1st MidAmerica CU said Alan Meyer, its chief operating officer, will become president and CEO of the $480-million credit union on June 1, when longtime CEO Don Reedy retires.
Reedy joined the credit union then Olin Employees CU 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.
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.