Veteran CEO of BlueOx Credit Union to retire

A longtime leader at BlueOx Credit Union in Battle Creek, Mich., is preparing to step down.

Fran Godfrey, CEO of BlueOx Credit Union
Fran Godfrey, CEO of BlueOx Credit Union

The $211 million-asset institution said in a press release Tuesday that Fran Godfrey will retire as CEO on Jan. 31. She started at the credit union as a teller in 1974, when it was known as School Employees Credit Union, and took the helm in 2008, succeeding Roxana Willis.

“Her long-standing support, as well as industry and institutional knowledge, have been invaluable to BlueOx, and her dedication has been vital to our success,” said Albert Mumford, BlueOx chairman. “Fran has worked tirelessly to ensure the credit union keeps pace with the changing needs of our membership while preserving our core values.”

Under Godfrey’s leadership, the credit union rebranded as BlueOx, completed four mergers and grew to more than 21,000 members. Today it has a statewide field of membership, serving anyone who lives, works or worships in the state.

“I have enjoyed a fulfilling career at BlueOx Credit Union and am proud of the many accomplishments we have achieved over the years,” she said in the release. “Knowing that the credit union is financially sound and well-positioned for its next stage of growth, I am confident about the organization’s promising future.”

A BlueOx representative said a successor will be named at a later date.

The credit union lost more than $56,000 during the first three quarters of the year, an improvement over losses exceeding $200,000 during the same period last year, thanks to growth in interest and noninterest revenue streams and a 31% reduction in charge-offs.

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