iQ Credit score Union in Vancouver, Wash., named Eric Petracca as its new president and CEO, efficient Jan. 1.
Petracca replaces Kelly Schrader, who has been CEO of the $1.5 billion-asset credit score union since 2016. Schrader is leaving to pursue a brand new philanthropic alternative, iQ stated in a press launch earlier this month.
Petracca is presently iQ’s chief operations officer the place he’s answerable for operations, compliance, danger administration and data safety. He started his profession as a teller at Lacamas Group Credit score Union in Camas, Wash.
“Whereas we’ll really miss Kelly’s enthusiasm and galvanizing management, we’re excited to welcome Eric into this new function and look ahead to his continued concentrate on strategic progress, member service and his lengthy historical past with iQ and Lacamas Group Credit score Union earlier than that,” Chairman Doug Lehrman stated within the launch.
Schrader was instrumental within the credit score union’s current progress, together with its enlargement into the Portland, Ore., market with the opening of branches in Williams and St. Johns, iQ stated.
Via Schrader’s philanthropic work, iQ’s basis raised greater than $160,000 to assist youngsters in native communities.
iQ reported internet revenue of roughly $9.7 million within the first three quarters of 2020, down about 15% from the identical interval final yr, based on name report knowledge from the Nationwide Credit score Union Administration.