United Financial Credit Union in Saginaw, Mich. has announced that its president and CEO David Cibulka will retire on March 31, 2017, having led the credit union for the past 36 years. EVP Barbara Appold is set to succeed him.
Cibulka began his career in the financial industry in 1971 with positions at Second National Bank, First Savings and Loan, and Catholic Federal Credit Union, now a $347 million institution based in Saginaw.
He became manager at United Saginaw Credit Union (the former name of United Financial CU) on June 15, 1980. Under Cibulka's leadership, the credit union's assets have grown from $4 million to $195 million in assets, while membership has risen from 2,000 to almost 20,000 members. The organization has also expanded from one location with five employees to six branches with more than 60 employees currently.
"The board of directors has greatly appreciated Dave's efforts and dedication to serving the credit union for the past 36 years," said Edward Ulmer, board chairman.
Meanwhile, Appold has been with United Financial CU for over 25 years, with 13 of those years serving as the executive vice president. She has also served on the Credit Committee and Asset Liability Committee.
