Alta Vista Credit Union, a $173 million-asset institution based in Redlands, Calif., on Wednesday said David Justice, its executive vice president and chief operating officer, will take the helm when its current CEO, RaAnn Wood, retires on Nov. 1.
Justice came to Alta Vista CU in 2015. His previous stops at credit unions in the “Inland Empire” region of Southern California, east of Los Angeles, include serving as vice president of retail services at San Bernardino School Employees Federal Credit Union, buyer at Alaska USA Federal Credit Union and multiple positions with Arrowhead Credit Union.
Wood said Justice brings more than 19 years of financial services experience and a “wealth of knowledge” with him as he prepares to take the reins at the 14,600-member institution.
“During his tenure at Alta Vista, David has successfully launched our online lending platform and has led operational improvements in our consumer lending, credit card, equity and mortgage portfolios,” Wood said in a statement. “David is committed to serving the members and promoting Alta Vista’s growth in the communities it serves.”
Despite that talk of growth, the credit union has started 2019 on a downward trend. Alta Vista’s most recent call report lists a net loss of $549,137 for the first six months of this year, compared to net income of $342,680 in the first half of 2018. Still, as of June 30, 2019, its net worth ratio was 7.56% (“well capitalized”).
“I am very honored to be given the opportunity to serve as CEO of Alta Vista Credit Union,” Justice said. “To me, credit unions are all about serving their members and the community, both of which are very important to me. I look forward to this new challenge and thank the board of directors for giving me this opportunity.”
A graduate of Humboldt State University, Justice earned an MBA from the School of Business and Management at National University.
