FENTON, Mo. Alliance CU said its CEO Dennis Sommer is retiring March 1, after 28 years heading the now $200-million credit union.
Sommer will be succeeded by Tim Stephens, the credit union’s executive vice president, who has more than 22 years of credit union experience. Stephens was president of Healthcare Family CU for 14 years prior to joining Alliance’s management team.
Sommer’s retirement ends a 40-year career in the credit union industry. He joined the credit union, then called Emerson Community CU, in 1985 as president & CEO. At the time, the credit union had $18 million in assets and served about 9,000 members, the majority being employees of Emerson Electric.