Steven J. Bugg has been named the next president and CEO of Great Lakes Credit Union, an $815 million-asset institution based in Bannockburn, Ill..
Bugg, who will take over at Great Lakes on May 21, has been serving as executive vice president of Heritage Federal Credit Union, a $550 million institution based in Newburgh, Ind. Most recently, he was responsible for marketing, public relations, business development, retail operations, the branch network, facilities, security, and the investment division.
Yvonne Bailey, VP-marketing, at Great Lakes CU said via email that former president and CEO Vikki Kaiser retired last October after 25 years at the credit union.
Bugg began his career in banking, with experience in consumer, indirect, mortgage and commercial lending, along with branch management. He then moved into the telecom industry, where he was responsible for marketing, alternative distribution, strategy, sales and operations for several organizations.
“We have the utmost confidence in Steve’s ability to keep our ‘member promise’ philosophy first and foremost, smartly grow our organization and support GLCU employees,” Great Lakes Board Chair James Fabrie said in a statement.
Bugg graduated from the University of Evansville in Evansville, Ind. with a BA in business administration/marketing.
Great Lakes CU posted net income of about $2.2 million in 2017, up from about $1.7 million in the prior year.