BETHALTO, Ill. Don Reedy, president and CEO of 1st MidAmerica CU, will retire at the end of May, ending a 35-year career with the $482-million credit union.
Alan Meyer, executive vice president/chief operating officer, has been promoted to succeed Reedy, effective June 1.
Reedy joined the credit union, then Olin Employees CU, in 1978 as a collections manager when the credit union had $15 million in assets and served 7,751 employees of Olin Corp. Today, 1st MidAmerica is the fifth-largest credit union in the St. Louis metropolitan area, has 175 employees, serves more than 45,000 members and assets have grown to $482 million.
Since Reedy’s arrival, 1st MidAmerica has evolved from an employee-based credit union to one that serves members in 16 Illinois counties and one county in Missouri. The credit union said it also expanded services to include checking accounts, share certificates, mortgage loans, business services and an investment program.
Reedy’s successor, Meyer, has more than 29 years of experience in the financial services industry. He has been part of the 1st MidAmerica management team since 2002.
