SECU names its first female CEO

The second-largest credit union in the U.S. has a new leader.

State Employees Credit Union in Raleigh, North Carolina, named Leigh Brady as its CEO. She replaces Jim Hayes, who stepped down to be the chief executive of State Department Federal Credit Union in Alexandria, Virginia.

Brady is the $50.8 billion-asset SECU's first female CEO. She has been with the company for 35 years and had been its chief operating officer since 2021.

Hayes joined SECU in 2021 after being CEO of the $2.5 billion-asset Andrews Federal Credit Union in Suitland, Maryland.

"No one understands SECU better than Leigh Brady," said SECU Chairman Chris Ayers in a press release Tuesday. "She has been an integral part of the credit union for more than three decades and uniquely understands our mission and our members."

Before being named SECU's chief operating officer, Brady held leadership positions in various areas of the organization including human resources, communications, organizational development, accounting, marketing and auditing. 

In a separate press release, the $2.8 billion-asset State Department FCU said Hayes will become its new president and CEO effective July 31. He succeeds Jan Roche, who is retiring after twenty years with the credit union.

"Jim is an experienced credit union executive whose passion and vision aligns well with our credit union," said State Department FCU Chairperson Marlene Schwartz in a press release. "I know that Jim's leadership will be invaluable as we continue to grow and serve our members."

Hayes has more than 27 years of credit union management experience. Before joining Andrews FCU in 2013, he worked for Western Corporate Federal Credit Union as its chief financial officer.

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He also previously worked as a capital markets specialist and corporate examiner for the National Credit Union Administration.

"Jim Hayes is a quality guy, and I think he'll do an incredible job at State Department," said Dennis Dollar, a credit union consultant and former chairman of the NCUA board. "He was at the NCUA when I was there and has had a distinguished credit union career since he left. I know of no one with credibility that has ever said a bad thing to me about Jim."

State Employees earned $144 million in the first quarter of 2023, relatively flat compared to the prior year, according to call report data from the NCUA.

State Department FCU earned $4.7 million in the first quarter, a 13% decrease compared with a year earlier, according to call report data.