Susan Frank, CEO of $4 billion Desert Schools Federal Credit Union in Phoenix, on Friday said she is retiring after a 25-year career with Arizona's largest credit union.
Frank's tenure with Desert Schools FCU began in 1992, after serving 12 years with Bethpage Federal Credit Union in New York. In 1999, when she was appointed CEO of Desert Schools, Frank became the first woman in the United Stated to lead a credit union with $1 billion or more in assets.
According to a statement released by the credit union, Frank has been "instrumental" in expanding the number of products and services offered at Desert Schools, as well as initiating a total quality management philosophy. She supervised the launch of numerous new branch locations, guided the financial growth of the credit union from $450 million to $4 billion in assets, and helped to grow membership to more than 300,000 members.
Frank's career "has included countless accolades, awards and the utmost respect of a community, Desert Schools FCU said.
"I have been honored and humbled to serve our employees, members and our community during my time at Desert Schools. I've not only been able to build my career here, but I have built a life and a professional family," said Frank. "I am grateful to have been surrounded daily by arguably some of the very best professionals and human beings I've ever known. Leaving Desert Schools has not been an easy choice, but it is time to pass the torch to someone who I know will continue to move Desert Schools forward in innovative and strategic ways."
Frank will be succeeded in the role of CEO by Jeff Meshey, currently president of Desert Schools FCU. Meshey was promoted to president in 2014 and has 22 years of experience with the company, all of which have been served with Frank holding the senior executive leadership position.
"I could not be more honored to step into the role of CEO following all of my years serving at Desert Schools under Susan's guidance and leadership," said Meshey. "We have been working on a plan for the last several years to provide a seamless transition for our members and employees. I look forward to continuing to serve our community for many years to come and to continue the legacy of impactful work that Susan has started at Desert Schools."
Meshey is credited with being a "key contributor" to Desert Schools' immense success in the Arizona market. The CU said he was "instrumental" in leading it through the economic downturn in 2008. He also helped move the organization's area of service from solely school employees to a community charter. Meshey will transition into the role of CEO in February 2017.
Culture of Giving Back
In addition to instituting innovative policies within the financial realms of Desert Schools, Frank has been responsible for implementing a "culture of giving back" within the organization; building the framework for Desert Schools' mission to include community service as a pillar of the company.
Through her work, Frank has enabled Desert Schools to become a corporate leader in community giving; spearheading donation and fundraising efforts for community partners through programs such as Shine On, Desert Schools' largest non-profit partnership to date. Shine On launched in 2014 and provides grants to deserving local non-profits annually. The CU said Frank has dedicated her career to serving her community and is a believer in the positive culture that giving back fosters within the workplace.
"I have come to know Susan quite well over the last several years," said Claudette Gronski, chairperson of Desert Schools FCU's board of directors. "Susan is not only one of the most savvy, but most generous leaders I know in this community. It has been an honor to serve Desert Schools and our members alongside her."
Outside of Desert Schools, Frank's work in the community extends to serving on various boards and committees, including the Assistance League of Phoenix and Arizona Coyotes Foundation. She currently serves as a board member with the Valley of the Sun United Way and is a past chairman of the board of directors of Communities In Schools of Arizona, and a past president and member of the Kiwanis Club of Phoenix.
