Dias Plans To Step Down As CEO At PTCU In2006

PORTLAND, Ore. - (08/29/05) Clifford C. Dias, CEO of PortlandTeachers Credit Union, said he will retire in May 2006. Dias, 56,has been with PTCU since 1995, and is only the fourth CEO in theCU’s 73-year history. Dias said he is announcing hisretirement well in advance of the actual date in order to assistwith the transition of responsibilities to a new CEO. PTCU ChairSteve Gray credited Dias with overseeing an improvement from a netloss of $4.2 million in 1998 to a projected net income of $22million in 2005. Dias earned some notoriety in the summer of 2004after local media reported Dias was earning annual compensation of$1.6 million, more than twice the salary of the next highest paidCEO in the state. "My immediate plan for retirement is to work withkids under nine years old in the development of their athleticskills and abilities. The reason I set this age limit is my initialexperience is that kids under nine are interested in learning,while kids over nine are more interested in winning,” saidDias.