Jay Champion has resigned as CEO of Westerra Credit Union in Denver.
Champion had been chief executive of the $2.2 billion-asset company since he
In the interim, the credit union has appointed Steve Schmidle, its chief financial officer, to be the acting president and CEO while a long-term plan is explored.
"Westerra's purpose, vision and mission are bigger than any one of us, and should outlive all of us. While I'm excited about my future opportunities, I'll always look upon my time at Westerra very fondly," Champion said in a press release Wednesday.
Schmidle has served as Westerra's CFO for the past four years and has 25 years of experience in credit unions and the financial services industry. In addition to his CFO duties, he has also overseen Westerra's enterprise solutions group, enterprise risk management, technology and operations teams.
Westerra earned $3.7 million in the first quarter of 2023 after losing $1.3 million in the year-ago quarter. The credit union lost $589,000 for the full year 2022.
