David Clendaniel, the CEO of Dover Federal Credit Union, a $441-million institution based in Dover, Del., said he will retire in May 2017.
"Thanks to his commitment, Dover Federal is well positioned for its next phase of leadership," the credit union said in a statement, adding that the board of directors is now conducting a search for Clendaniel's successor.
Dover FCU noted that under Clendaniel's leadership, the credit union's asset size has mushroomed from $40 million, while it now boasts more than 45,000 members. It is the largest credit union in the state of Delaware.
During his tenure, Dover FCU noted, Clendaniel has been "extremely active" in working with Delaware's Congressional Delegation on credit union legislation and regulation, while serving on the Legislative Committee of the National Association of Federal Credit Unions (NAFCU), the Credit Union National Association's (CUNA) Federal Credit Union Subcommittee, and on the Research Council for the Filene Research Institute.
