SAN BERNARDINO, Calif.—Larry Sharp, the long-time credit union advocate and former CEO of Arrowhead Credit Union, has died.
Sharp, 72, was well known to many in credit unions across the country but especially in California, where he had a 45-year history in CUs and his community.
"I know many of you have had the privilege of knowing Larry throughout the years," said California and Nevada Credit Union League President and CEO Diana Dykstra in a statement. "He volunteered his time and served Arrowhead Credit Union, the community, and the credit union industry on the state and national level. His presence will be missed by many.”
Sharp’s departure from credit unions was surrounded by controversy. He was removed as CEO of Arrowhead CU, along with the board, when NCUA and the California Department of Financial Institutions placed the credit union into conservatorship in May of 2010. At the time of conservatorship Arrowhead CU’s net worth ratio had declined to 3% as the Inland Empire region of California was hit hard by the recession. Sharp was outspoken and critical of the regulators’ move, arguing ACU was rebounding from tough times, and a number of other leading credit union executives spoke out in support of Sharp. Arrowhead was released from conservatorship in 2013.
VP Cal State Bernardino
Upon retiring from credit unions Sharp moved to a position as vice president of university advancement for Cal State Bernardino, where he worked in a fundraising capacity. But even though he retired, Sharp remained in touch with credit unions and attended the California and Nevada leagues’ annual meeting in Los Angeles in October 2014, where he was called up on stage with all those who had been recognized with the Leo H. Shapiro Lifetime Achievement Award, which he won in 2008.
Sharp’s career in credit unions began in 1965 when the then 23-year-old was named general manager of Solar FCU. He spent 14 years there before becoming CEO of San Diego Navy CU. In October 1982, he was hired as CEO of Arrowhead CU, then known as San Bernardino County Central CU. He served at Arrowhead for 28 years.
In a statement, the California and Nevada leagues said Sharp “distinguished himself as a pioneer in the industry, and his vision led to Arrowhead CU becoming a leading financial institution, benefiting its members and the community at large. He was a dedicated volunteer and business leader who worked on issues ranging from educational and philanthropic opportunities, minority development, mentoring future leaders, economic development, transportation issues, and business expansion.”
Sharp's Work
Among the accomplishments during Sharp’s career:
- He co-founded the Arrowhead Political Action Committee in 1996, which served a model for other credit unions.
- His work with the World Council of Credit Unions helped promote credit unions throughout the world, especially in Mexico and China.
In addition, Sharp was honored with numerous awards and recognitions, including:
- Distinguished Chief Executive Award—Cal State San Bernardino’s School of Business and Public Administration (1998)
- Appreciation of Leadership Award—Arrowhead United Way (2000)
- Business Leader of the Year—San Bernardino Sun newspaper (2000)
- New Wave Award—Richard Myles Johnson Foundation (2001)
- Donald G Hagman Award—Southern California Association of Governments (2003)
- Dynamic and Effective Leadership in Career Technology Education—University of California, Riverside (2008)
- Honorary Doctorate of Humane Letters—Cal State San Bernardino (2008)
Outside of credit unions, Sharp was:
- Chairman of Western CUNA Management School Board of Trustees
- Chairman of the California Inland Empire District Export Council
- Chairman of the Community Foundation
- Chairman of the Inland Empire Economic Partnership
- Chairman of the Inland Empire Transportation Coalition
- Chairman of Loma Linda Children’s Hospital Foundation
Three-year board member of the San Bernardino County Employees Retirement Association
As part of their tribute, the California and Nevada leagues released this quote from Sharp: "The credit union movement has meant so much to me personally. I strongly believe in the movement and want to further it as much as possible. I have always felt that credit union leaders must participate not just in the operations of the credit union, but also in the community and in government affairs in order to make the voice of all credit union members heard."