Rudy Pereira, president and CEO of Royal Credit Union in Eau Claire, Wis., is set to depart Royal CU for the top spot at Premier America CU, a $2.3 billion-asset institution in Chatsowrth, Calif.
A Southern California native, Pereira has been with Royal since 2011 and is the third CEO to lead the credit union since its formation in 1964.
“It has been an honor to serve as Royal’s president & CEO for the past five years,” Pereira said in a statement. “I have enjoyed working with our board, executives and team members to provide exceptional service to our Members. We are a values-driven organization and take pride in our ability to offer great products and services while giving back to the communities we serve. I have enjoyed serving Royal’s members in Wisconsin and Minnesota and I’m proud of what we have been able to accomplish for them.”
Under Pereira’s tenure, Royal CU saw its assets grow by 60% in assets. Last calendar year, Royal CU generated a net income of almost $20 million, after a $19.1 million performance in the prior year, according to call report data.
“I would like to thank Rudy for his service to Royal,” said board chairman, Doug Olson, in a statement. “I certainly understand the opportunity to return home is one Rudy couldn’t let pass and we appreciate the success he has helped the credit union achieve.”
Royal's board of directors is currently working on transition and succession plans. No new CEO - interim or permanent - has yet been announced.
Pereira will succeed John M. Merlo at Premier America, which Merlo has led since 1997. Details of his departure are unknown, and calls and emails to Premier America seeking further detail were not returned as of pres time.
Premier America earned a net income of about $21.8 million last year, a big jump from $14.9 million it earned in 2015.
