VERNON HILLS, Ill.—Baxter Credit Union said President and CEO Michael G. Valentine plans to retire in 2027, capping a 42-year run at the credit union, while longtime executive Jim Block has been named his successor as president effective July 1, 2026.
BCU said the move follows ongoing succession planning discussions with its board.
BCU said Valentine joined the credit union in 1984 as manager of lending and collections and became president and CEO in 1994. In announcing the transition, the $6.4-billion credit union said Valentine helped lead its growth from a single sponsor tied to Baxter Healthcare to an institution now serving about 370,000 members, with partnerships that include major employers and associations across the U.S. and Puerto Rico.
Under the succession plan, Block—currently executive vice president and chief operating officer—will become president this summer and report to Valentine until the CEO’s retirement takes effect in 2027. BCU said Block has been with the organization since 1995, has more than 35 years of experience in credit unions, financial services and technology, and has led enterprise operations spanning product lines, technology, lending and sales contact center teams in the U.S. and Puerto Rico.