The board of directors $906 million-asset Los Angeles Police Federal Credit Union has appointed Edwin Hada as the CU’s new president and CEO, effective Jan. 1, 2018.

Hada formerly served for more than 10 years as senior vice president/chief finance officer, finance and administration, at the Van Nuys, Calif.-based credit union.

Before coming to LAPFCU, Hada worked at WesCorp, a corporate credit union, where he served as vice president of financial consulting services and vice president of investment operations.

Edwin Hada, LAPFCU
Edwin Hada, new CEO at LAPFCU

Hada succeeds G. Michael Padgett who retired after 31 years of service at LAPFCU,

“Ed comes to this position with outstanding credentials,” LAPFCU Board Chair Lorie Taylor said in a statement. “He was responsible in great part for helping the credit union to maintain financial stability during the extended recession.”

Hada earned his bachelor’s degree in economics from Occidental College in Los Angeles. He is also a member of the Credit Union National Association CFO Council.

LAPFCU posted net income of about $3.3 million in 2016, up from about $2.2 million in the prior year.