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PEFCU elects new board members, CEO announces retirement | Business News | Lafayette Online
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News | Business News

PEFCU elects new board members, CEO announces retirement

WEST LAFAYETTE, Ind. –– Purdue Employees Federal Credit Union (PEFCU), a member-owned cooperative governed by a nine-member volunteer board, held its 2008 Annual Meeting on April 8, at the University Plaza Hotel in West Lafayette, Ind., with 128 members in attendance.

Chief Executive Officer William “Bill” F. Connors and Chair Charlene Sullivan shared with members the ways PEFCU, its staff and its members, fulfilled its philosophy of “people helping people” during 2007. Numerous contributions of time and money to local organizations, responsible lending practices (avoidance of sub-prime lending), free financial literacy seminars and free credit counseling are just a few of the described successes.

Members re-elected Susan Smith and John Trott, and elected P. Greggory Williams as members of the board of directors for a three-year term. Smith is president and chief executive officer of Family Services, Inc.; Trott is retired from Agricultural Centers at Purdue University; and Williams is vice president of investments for Lafayette Life Insurance Company. Members also elected Mark Moriarty to fulfill an incomplete two-year term for Director Ron Feathers, who passed away in November 2007.

The 2008-09 board of directors officers are Charlene Sullivan, chair; Steve Brewer, vice chair; Robert Bain, treasurer; and John Trott, secretary. Additional members of the board are Sue Aufderheide, Mark Moriarty, Susan Smith, Mike Trautmann and P. Greggory Williams.

Also during the meeting, Connors announced his retirement, effective July 1, 2008. Connors will provide consulting services to PEFCU through December 31, 2008.

Bill Connors

William “Bill” F. Connors

Since joining PEFCU, Connors has worked to bring the credit union closer to its business partners. Special attention has been paid to the credit union’s largest and original partner—Purdue University—by providing exclusive ATMs in campus residence halls and increased branching and other member touchpoints around the Greater Lafayette community. Connors has encouraged the active involvement of PEFCU and its employees in community affairs through time and financial contributions to Greater Lafayette United Way and other deserving area nonprofits.

Throughout Connors’ 12-year tenure as CEO, he positioned the credit union as a leading provider of technology-based financial services and expanded the credit union’s reach by offering a shared branching and surcharge-free ATM network to our members.
Connors began his credit union career in 1970 and since that time he has been highly engaged in more than 20 industry and community organizations. He currently serves as CEO of Passageways, LLC, a software provider partially owned by CU Channels, a PEFCU subsidiary; and board member of Card Services for Credit Unions. In addition, he formerly served as chairman of the board for Midstates Corporate Credit Union; member of the Credit Union National Association’s Federal Credit Union Committee; chairman of the board for CO-OP Network, which is an organization that provides a nationwide network of more than 25,000 surcharge-free ATMs to credit union members.

Assuming the position as the credit union’s fifth CEO will be Bob Falk, a six-year PEFCU employee who has been serving as president and chief operating officer.

“The board has admired Bob’s energy and passion for innovation for the past five years, but we believe his most valuable attributes are his belief in creating an excellent team and his focus on meeting our members’ financial needs,” said Charlene Sullivan, board chair.

Since joining PEFCU in 2002 as vice president of lending, Falk has provided executive leadership to mortgage, consumer and commercial lending as well as marketing, business development, human resources and retail branches. Under his leadership, the credit union initiated new gold and platinum credit cards with a ScoreCard Rewards program, and acquired the Purdue Alumni Association affinity credit card program with exclusive Purdue University card designs. Falk is also responsible for growing staff as true financial experts and initiating the credit union’s in-house mortgage servicing — a rarity in the industry.

Falk has 18 years of credit union experience. He previously served as account vice president for CUNA Mutual Group, serving the financial needs of the largest credit unions in Colorado, Kansas and Utah, and as vice president of lending at the University of Colorado Federal Credit Union (now Elevations Credit Union) in Boulder, Colo.

Under Falk’s leadership, the credit union will continue to provide a safe, fair place for members to save and borrow money at a fair rate, as was its purpose when founded in 1969 by a group of Purdue employees.

Founded on the Purdue University campus in 1969, Purdue Employees Federal Credit Union (PEFCU) boasts assets exceeding $475 million and serves more than 56,000 members nationwide. The credit union is driven by superior member service and is dedicated to serving the Greater Lafayette community.

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