CEO of Consumers Credit Union in Michigan to retire

Kit Snyder, longtime president and CEO of Consumers Credit Union in Kalamazoo, Michigan, will retire next July 4.

The $1.7 billion-asset credit union announced Tuesday that Snyder, who has led Consumers for roughly 38 years, will be succeeded by Scott Sylvester, currently the credit union's chief operations officer.

“The board of directors and I would like to thank Kit for his incredible leadership as CEO these past 38 years,” Brent Basset, who chairs the board, said in a press release.

At the time of Snyder’s appointment as CEO in 1983, Consumers was known as Southwestern Michigan Utilities Employees Credit Union. It underwent a charter expansion and name change four years later.

“It’s amazing to think that in 1994 when I hired Scott Sylvester we’d fast forward to this time and place,” Snyder said in the release. “Scott has proven from the outset of his career with Consumers his willingness to build consensus and take decisive action for the betterment of our credit union and membership … from teller to CEO, what an honor to have worked alongside him."