Founder, Longtime CEO At Pennsylvania’s Cross Valley FCU Retires

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WILKES BARRE, Penn. – Cross Valley FCU said Leonard Shimko is retiring as president and CEO of the $160 million credit union he started in 1969 and has headed for 42 years.

Leonard, along with his brother, Joseph Shimko, and the late Lon Volpi, began the credit union in 1969. In order to service the financial needs of the employees at the Social Security Administration, they worked with NCUA to charter the Wilkes-Barre Federal Employees FCU. In 1993, they changed the name to Cross Valley Federal Credit Union.

Besides building a successful credit union, Shimko and his employees are largely responsible for the close relationship credit unions had with their local Congressman, Paul Kanjorski, who became the champion of credit union causes in Congress. Cross Valley was among a handful of credit unions who provided volunteers and campaign contributions on a regular basis to Kanjorski’s campaigns.

Shimko plans to remain active on the board of Cross Valley.

 

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