Rivermark Community Credit Union, an $849 million institution based in Beaverton, Ore., has appointed Seth Schaefer as the president and CEO, succeeding Scott Burgess who will retire, effective July 1.

The board appointed Burgess as emeritus president/CEO to “ensure a smooth and seamless transition.”

Schaefer, who joined Rivermark in 2003, most recently served as chief experience officer directing all aspects of mortgage, consumer and business lending, branch operations, call center, and marketing.

Schaefer is a graduate of Willamette University in Salem, Ore., and has more than 15 years’ experience in the financial services industry, including senior roles in strategic planning and enterprise risk management.

“Seth has been an integral part of our success at Rivermark,” said Burgess, “and I am excited about Seth serving in this new role. He is a highly effective leader and will carry forward Rivermark's vision of helping members achieve financial success.”

Rivermark posted net income of about $4.9 million in 2017, down from about $6.5 million in the prior year.

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