SALT LAKE CITY – Deseret First FCU announced this morning the promotion of Shane London, who started his career at the credit union as a part-time teller in 1981, to be the president and CEO of the $420 million credit union serving members and employees of the Church of Jesus Christ of Latter-day Saints, the Mormon Church.
London, most recently chief financial officer at Deseret First, will succeed Clint Gurney, who led the turn-around of the one-time $512 million credit union after it racked up $17 million in losses during 2009 and 2010 at the height of state’s financial crisis.
Gurney, who was a top financial executive with the LDS Church, was appointed interim CEO in April 2010 when then-CEO Kris Mecham, who was also serving as CUNA Chairman, left to head a Mormon mission to Mongolia.
London began his career with Deseret First as a part-time teller and accounting clerk while attending the University of Utah, where he earned a degree in accounting. During his career at Deseret First, he advanced to positions as an accountant, controller, and vice president. Since 2008, he has served as executive vice president and chief financial officer. He has also been extensively involved in the information technology, electronic services, risk management, CUSO, and investment services areas.
“Shane has provided critical financial leadership during the recent turbulent economic environment. He is well-respected on a national and state level by his credit union associates and regulators,” said Shaka Kariuki, chairman of the board of directors of Deseret First.
London led Deseret First’s switch from a state to a federal charter in 2003 and also was responsible for the credit union’s investment in and migration to the CO-OP ATM Network and Deseret First’s venture into the CU Service Center network. He is a charter member of the CUNA CFO Council, a member of the CU Executive Society, and has served on numerous committees with the Utah CU Association and is currently on its education committee.
London will take the helm at Deseret First on July 1.