We begin this roundup of news from the credit union world with the newest client of Credit Union Leasing of America (CULA).

The provider of indirect vehicle leasing for credit unions for more than 30 years announced this week that it has been selected by Utah-based Mountain America Credit Union to bring vehicle leasing to its more than 1.1 million members.

CULA highlighted that Mountain America opened in the 1930s and today has more than $18 billion in assets and is ranked as the ninth largest credit union in the U.S. and the second largest in Utah.

“We are committed to help our members define and achieve their financial dreams, and provide them with convenient, flexible products and services. Today’s rising vehicle prices are a significant concern for credit union members, and we are pleased, through this new partnership with CULA, to be able to offer the more flexible, affordable option of vehicle leasing,” said Jade Beckman, vice president of indirect consumer lending at Mountain America Credit Union.

“We chose CULA because of their decades of enabling credit unions to offer indirect vehicle leasing, and their dedication to customer service, which sets them apart in our industry,” Beckman continued.

Through the partnership with Mountain America, CULA will further extend its footprint in the Intermountain West region, originating leases in Utah, Idaho, Montana, Oregon and Washington, and expanding its presence in Wyoming and Nevada.

CULA can enable credit unions to add vehicle leasing to their portfolios and dealers to offer their customers more finance options, through its indirect vehicle leasing program that handles the intricacies of leasing for its clients, including analytics, insurance, operations, compliance and more.

“Mountain America has long been one of the nation’s most progressive credit unions, with a nearly 100-year history,” CULA president Ken Sopp said. “We are proud that they are joining the CULA program and we look forward to helping them enjoy the benefits that vehicle leasing can provide for their members, while further diversifying their portfolio and increasing yield.”

CULA has added 12 credit unions to its indirect leasing platform in the past year.

CULA vice president of business development Mark Chandler also acknowledged the company’s ongoing partnership with Origence has played a key role in recent expansion.

“We value our relationship with Origence and are excited to continue working with their fantastic team as we bring vehicle leasing to Mountain America and further expand our national presence,” Chandler said.

LMCU reveals president and CEO successor

Turning to executive changes, Lake Michigan Credit Union (LMCU) announced this week that Sandra Jelinski — who has been president and CEO of the 16th largest credit union in the nation for the past 23 years — plans to retire in March.

“After an incredible career spanning several decades, including 23 years as president/CEO, and growing the credit union dramatically from $300 million to more than $13 billion, with over $16 billion in serviced portfolio mortgages and almost 600,000 members, I’m honored to announce that Sandy Jelinski will be retiring from LMCU,” LMCU board chair Gretchen Tellman said in a news release.

“Her vision to transform the credit union into one of the leading financial institutions in the country, including expanding operations in Michigan and Florida, has positively shaped the last several decades. We wish Sandy all the best in her well-deserved retirement and are so very grateful for the leadership she has provided to LMCU, as well as the unwavering commitment she has had to serving our members, staff, and local communities,” Tellman continued.

Reflecting on her career, Jelinski said, “LMCU has been my professional home, and so much more, so the decision to retire is certainly bittersweet.

“Working alongside our Michigan and Florida teams, who are more than 1,650 strong, it has been a true privilege to help our members realize their financial dreams and goals. LMCU is blessed to have one of the absolute best management teams and board of directors, whose combined experience, talent, and drive will benefit my successor as they work together to drive the credit union to new heights and execute our long-term growth strategies,” Jelinski continued.

LMCU’s board selected Julie Leonard as Jelinski’s successor. Leonard will begin her role as president and CEO of LMCU effective March 4.

Leonard currently serves as executive vice president and chief financial officer of Suncoast Credit Union, which is based in Tampa, Fla., and is the nation’s 10th largest credit union with more than $17 billion in assets.

“I am thrilled to be selected as the leader of such an amazing and successful credit union,” Leonard said. “What an honor to join such a talented team that improves the lives of its members and has such a positive impact on communities across Michigan and Florida. I look forward to working closely with the LMCU team to serve and positively impact our members by building on the impressive success LMCU has experienced under Sandy Jelinski’s leadership.”

Employing a staff of over 1,650 and serving nearly 600,000 members, LMCU’s assets exceed $13 billion, and its board is looking for Leonard to keep the success going.

“The board is excited and pleased to welcome Julie to the LMCU team. She has clearly demonstrated that she is a charismatic, capable, and experienced leader, as well as a great team builder who is deeply engaged with the community,” Tellman said.

“Julie brings a great depth of experience in financial services, and a keen understanding of the Florida market, as well as being a Michigan native. We are confident she will continue LMCU’s remarkable growth trajectory and solid commitment to always doing what is right for our members,” Tellman went on to say.

Gabriel named Direct Federal Credit Union COO

And in other executive moves, Direct Federal Credit Union announced the promotion of Andrew Gabriel to the position of senior vice president and chief operating officer.

Gabriel joined Direct Federal in March 2020 and was a key contributor to the credit union’s core conversion project that year. His dedication and commitment to excellence quickly caught the attention of Direct Federal management, and in 2021, he earned its leadership award.

In 2022, Gabriel joined the credit union’s senior leadership team and began overseeing business applications, digital experience and project management.

“Since then, he has demonstrated a profound understanding of how internal operations impact members and member-facing departments, proactively implementing systems to minimize any disruptions,” the credit union based in Needham, Mass., said.

Last year, Gabriel assumed leadership of strategic deployment and took the lead on key aspects of the strategic planning process in collaboration with the broader senior leadership team.

“His meticulous project management approach has ensured the timely implementation and measurement of all critical strategic projects,” the credit union said.

In his new role, Direct Federal indicated Gabriel will be responsible for leading the IT, business applications, project management, and deposit servicing departments. His primary focus will be on enhancing operational efficiency and fostering collaboration between these departments and across the entire organization.

The credit union added Gabriel will continue to oversee the credit union’s adoption of lean methodology, driving efficiency and excellence throughout the organization.

“Andrew’s promotion to senior vice president and chief operating officer is not just a recognition of his exceptional talent, but also a testament to his unwavering commitment to continuous improvement and root cause analysis,” Direct Federal President and CEO Joe Walsh said in a news release.

“His relentless pursuit of excellence has been a driving force behind our credit union’s success, and we do not doubt that he will continue to lead us to even greater heights in this new role,” Walsh went on to say.