Sun Federal Credit Union, Maumee, Ohio, on Wednesday said Gary Moritz, its longtime president and CEO, will retire on Feb. 1.
The $511 million-asset CU said Brian Hughes will take over upon Moritz’s retirement. Hughes has more than 23 years of experience in the financial services industry. He began his tenure at Sun FCU as a vice president of finance. Later he was promoted to his current position as executive vice president.
Moritz has been with Sun FCU for 39 years, the past 30 as president and CEO. The credit union serves 35,000 members via 12 branches in Ohio and Pennsylvania. It has 132 employees.
“Reflecting on my career, I have been blessed and inspired by many life changing relationships and experiences,” Moritz said in a statement.
Bill Carr, chairman of the Sun FCU board of directors, said, “We are looking forward to working with Brian to bring positive change and growth to Sun Federal, so that we can beneficially impact the lives of an ever-increasing number of members.”
Hughes is a member of CUNA’s Finance Council and is a recipient of the Council’s Volunteer of the Year award. He also serves as a member of Huntington University’s President’s Advisory Council for Excellence; Lake Erie West Service Center’s Advisory Council and volunteers his time on the Mainstreet Ministries Finance Team.
Hughes earned a BS in accounting at Huntington College, and a master’s in business administration at the University of Toledo.
In its most recent call report, Sun Federal Credit Union had $1,829,808 in net income last year. As of Dec. 31, 2018, its net worth ratio was 9.89 percent (“well capitalized”).
As of the end of Q4 2018, Sun FCU held 22,870 loans for a total of $344,763,028. Last year it granted a total of 4,776 loans for $136,655,951.
