United Heritage Credit Union in Austin, Texas, promoted Michael Ver Schuur to be its next president and CEO.
Ver Schuur has more than three decades of financial services experience and was most recently executive vice president and chief strategy officer for the $1.5 billion-asset United Heritage.
He succeeds Buddy Schroeder, who retired after 43 years at the credit union. He had been CEO since 1994.
"We conducted a comprehensive evaluation process with the assistance of a leading executive search firm. Ultimately, the board concluded that Michael's ongoing success in his current role with our organization makes him the perfect person to lead UHCU into the future," Chairman Harold Keyes said in a press release Wednesday.
The credit union has 11 branches and more than 77,000 members.
Ver Schuur, who joined United Heritage in 1989, said he will focus on delivering a "unique value proposition" while continuing to enlarge the credit union's market share throughout Texas.
United Heritage earned $17 million in 2022, a 25% increase compared with a year earlier, according to call report data from the National Credit Union Administration.
