John McCloy, CEO of Westerra Credit Union in Denver, will retire on Dec. 1.
Jay Champion, former chief operating officer of Elevations Credit Union, will take the helm after McCloy’s departure, Westerra said on Wednesday. Champion has more than 30 years of experience in financial services. At Elevations, he oversaw lending and retail delivery channels, governmental affairs and marketing.
“After conducting an extensive national search and evaluating many excellent candidates, the board of directors is excited to have Jay Champion take the lead in carrying on Westerra’s rich tradition of serving members,” Westerra Chairman Andy Raicevich said in a press release. “We are thrilled to bring an individual of Jay’s caliber on board and look forward to a long and successful relationship with Jay as our leader.”
Champion credited Westerra’s roots in the community and “rich tradition of service in the Denver metro area,” adding that he looks forward to building upon the credit union’s previous successes.
McCloy’s retirement will be the end of a career that has spanned more than 40 years in the financial services sector, including volunteering with the World Council of Credit Unions, medical missions to South America and other humanitarian outreach.
“I’m honored to have had the opportunity to work with John McCloy over the years,” Raicevich said. “His contributions to Westerra and the industry are immense and pave the way for us to continue to build for the future. We are extremely grateful for his visionary leadership, and wish him well in his retirement, as we pass the baton to Jay.”
Westerra has more than $1.5 billion in assets and serves over 124,000 members. The credit union earned $3.6 million during the first half of 2018, up about 71 percent from the same period a year earlier, according to call report data from the National Credit Union Administration.
