Kristin Shultz has been named the next CEO of Alexandria, Va.-based NRL Federal Credit Union, succeeding retiring CEO Linda Powell.
Powell has served NRL FCU for 16 years, including the last three years as CEO. Shultz formerly served as chief operating officer and is currently EVP of the $466 million-asset credit union.
"The board of directors is excited to begin a new chapter with Kristin Shultz as she takes up the reins as our new CEO,” said Richard Bevilacqua, chairman of the board. “She brings continuity from her experience as COO, and we're exceedingly confident in her abilities to take us forward into the exciting times ahead,”
According to her LinkedIn page, Shultz began serving as NRL’s COO in September 2016, moving to EVP in January of this year. Prior to joining NRL, she worked in various capacities at Northwest Federal Credit Union, now a $3.4 billion institution based in Herndon, Va.
NRL FCU noted that the board chose Shultz based on her “extensive experience” in the financial industry, as well as her “proven leadership” in her most recent role as chief operations officer at NRLFCU.
Specifically, during her first year as COO, the credit union saw loans grow more than 7.5 percent and membership rise by nearly 15 percent.
Shultz earned a BA in economics from University of Virginia and an MBA with a concentration in finance from Virginia Tech. She is also a certified Project Management Professional and has earned the Credit Union Executive Society Certified Credit Union Executive designation.
“NRL Federal Credit Union is poised for greatness. Our credit union is ready to grow and to bring enhanced services, products, and experiences to our members,” said Shultz. “I envision the credit union to remain financially strong and sustainable and to be recognized as a top employer nationally.”
NRL FCU posted net income of about $1.8 million in each of the past two calendar years.