Pacific Service Credit Union lines up next CEO
Pacific Service Credit Union, Concord, Calif., on Wednesday said Jenna Lampson will take over as president and CEO on Aug. 1.
Current CEO Steve Punch will act as a consultant until his retirement on Oct. 31. Punch has led the credit union for the past 12 years.
According to a statement issued by the credit union, Lampson has 25 years’ experience in the CU movement. She has worked at Pacific Service Credit Union since 2004, and is currently executive vice president and chief operations officer.
“The board and I are thrilled to have Jenna assume the role of president and CEO,” said Maria De Martini, chairwoman of the credit union’s board of directors. “She has demonstrated over the past 15 years, and throughout our extensive executive search process, that she possesses the intellect, skills and abilities needed to lead our credit union into the future.”
“I am extremely grateful for the opportunity to lead this great organization and work with our talented management team,” Lampson said. “I am passionate about fulfilling our mission to strengthen the financial future of our members during this time of competitive disruption and continuing advancements in digital delivery of products and services.”
De Martini said the credit union’s board is “grateful” to Punch for his “leadership and many contributions” over the past 12 years.
“With more than 41 years in the credit union industry and 24 years as a CEO, his experience and insights were indispensable in navigating the credit union through the Great Recession and positioning it as one of the strongest credit unions in the nation,” De Martini said. “He is leaving us with an outstanding team and we all wish him happiness and health as he enjoys his well-deserved retirement.”
Lampson is an honors graduate of Saint Mary’s College MBA program in Moraga, Calif., a graduate of Western CUNA Management School, and holds the Certified Chief Executive designation from CUES.
In its most recent call report, Pacific Service Credit Union had more than $1.9 million in net income during the first quarter of this year, an increase of 7% from the $1.8 million it earned in Q1 2018. As of March 31, 2019, its net worth ratio was 14.51% (“well capitalized”).