Terry R. West, president and CEO of VyStar Credit Union, announced that he plans to retire from the Jacksonville, Fla.-based institution, effective August 11.
“Good leaders know when it’s time to step aside,” West stated. “I still love coming to work each day, but I’m in my sixties and I’ve been CEO for 25 years and employed by VyStar for going on 29 years.”
When West began his career at VyStar, the credit union was then called Jax Navy and had $350 million in assets and five branches. Now, VyStar boasts $6.5-billion in assets with 41 branches.
West added that his tenure at VyStar has been “an incredible opportunity, but now that I will soon be 63, I reached the conclusion that I am ready to move into the next phase of my life.”
Last year, VyStar posted net income of more than $50 million, up from $40.6 million in the prior year.
VyStar also said the search process for a new president/CEO will be commence under the direction of VyStar’s board of directors during the next 30 days.
