Kathryn Davis is set to take over as president and CEO of Modesto, Calif.-based Valley First Credit Union, effective May 20.
The $603 million-asset institution said on Thursday that Davis will succeed Hank Barrett, who will retire after 29 years of service at Valley First.
The credit union began the succession-planning process last summer with the assistance of strategic consulting firm Mitchell Stankovic & Associates. Davis has more than 20 years of experience in credit union executive management, including serving in VP and SVP roles at Kinecta FCU and Xceed Financial CU, respectively. She most recently served as chief executive officer of BALANCE, a nonprofit that provides financial counseling services.
“Valley First Credit Union has a treasured, meaningful past with an exciting and bright future,” Davis said in a statement. “This is an important time for Valley First, and I look forward to building upon this rich foundation.”
Davis holds a Master of Arts from Chapman University in Orange, Calif., and a bachelor's degree from University of California-Riverside.
Valley First posted net income of $269,000 for the first three months of 2019, a 35% drop from the same period of 2018. During that period, total employee compensation and benefits climbed from $3.1 million to $3.4 million.
