First-time CEO to take the helm at USAgencies Credit Union
Justin Olson has been named the next president and CEO of $90 million-asset USAgencies Credit Union in Portland, Ore., effective Feb. 3.
Olson succeeds CEO Jim Lumpkin, who last summer announced his plans to retire during the first quarter of 2020.
“I am excited for the opportunity to lead this wonderful credit union. Jim Lumpkin and this team have built a strong foundation and brought a lot of stability to its membership,” Olson said in a press release. “I will strive to lead with as much class and care as Jim has. USAgencies will continue to prosper and we will continue to live out our mission – to provide solutions to improve each member’s financial life.”
The USAgencies position is Olson’s first time in the role of chief executive. He previously served as VP of member services at Trailhead Credit Union, also in Portland, where he helped grow the credit union’s loan portfolio from $45 million to $82 million in six years.
Prior to that he was a branch manager at TwinStar Credit Union in Lacey, Wash., managing day-to-day operations with an emphasis on teambuilding, member retention and growth strategies.
USAgencies reported just over $519,000 in net income during the first three quarters of 2019, the most recent call report data available, a 13% decline from one year prior.
As reported, several experts have suggested the outlook for CEO recruitment – and filling any executive-level position – could be significantly harder for credit unions in the year ahead.
Plano, Texas-based Credit Union Resources conducted the executive search that brought Olson to USAgencies.