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Published in Finance

Sylvester takes over Consumers Credit Union after longtime CEO retires

BY Thursday, July 28, 2022 02:32pm

KALAMAZOO — A new chief executive officer took over this month at Kalamazoo-based Consumers Credit Union.

Scott Sylvester succeeded longtime President and CEO Kit Snyder on July 2. Snyder retired after 38 years with Consumers Credit Union, including serving as president and CEO since 1983.

Scott Sylvester COURTESY PHOTO

Sylvester has been with the credit union for 28 years — starting as a teller in 1994 — and has worked as an accounting clerk, senior accountant, manager of information systems and vice president of technology, and later chief financial and chief technology officer.

“As we begin this next chapter in our journey, the Consumers team will always strive to provide the same high level of service to our communities and members,” Sylvester said in an announcement on the leadership transition. “I look forward to our continued growth and expansion into new markets, as well as future opportunities to serve our membership.”

Consumers Credit Union has 24 offices in Southwest and West Michigan and 126,497 members as of June 30, according to a quarterly financial report filed with the National Credit Union Administration. Assets at midyear totaled $1.9 billion, and the credit union had $1.57 billion in deposits.

Loans totaled $1.73 billion, including $196.7 million in commercial loans.

Consumer Credit Union through the first six months of 2022 recorded $13.1 million in net income, according to the NCUA report.

The credit union’s transition in CEOs included other leadership changes with Lindsay Land’s appointment as chief operations officer, Bob Dunning as chief information officer, and Scott Adams as chief risk officer.

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