Community First CEO to retire in 2021 after 35-year career in credit unions
Todd Sheffield, CEO of Santa Rosa, Calif.-based Community First Credit Union, has announced plans to retire next year.
Sheffield has 35 years of experience in the credit union movement, having come to Community First as chief financial officer in 2001 before being appointed CEO in 2003. Prior to that, he was CEO of Sonona Federal Credit Union for seven years, and held leadership positions at other CUs as well. During his time at Community First, assets have increased more than tenfold, having grown from $53 million to $640 million today. Membership has risen from 8,900 members to over 59,000.
“I have had an immensely gratifying and fulfilling career and have spent 19 rewarding years with Community First Credit Union,” Sheffield said in a press release on Monday. “I am grateful for the support shown to me by the board, managers, staff and community during my time as CEO. I have great confidence that Community First Credit Union will continue to serve the needs of its members, staying true to the credit union’s vision and founding principles.”
D. Hilton Associates has been engaged to conduct a nationwide search for a successor. No specific date for Sheffield’s retirement has been set other than saying he plans to leave mid-2021.
Third-quarter earnings at Community First stood at $4.1 million, up from $3.4 million during the same period last year, according to call report data from the National Credit Union Administration.