RALEIGH, N.C.—Jim Blaine, the long-time CEO at State Employees’ Credit Union here, has announced that he is retiring.
In a release, the credit union explained that Blaine’s retirement is effective upon selection of his replacement by the SECU board of directors.
SECU board of directors Chair Cynthia Jolly confirmed that the CU has a well-established succession plan and stated that the search should be completed no later than the first quarter of 2017. The SECU board said it is working with the firm of Matthews, Young – Management Consulting of Hillsborough, N.C., to assist with the selection process.
Blaine, 66, has served as the CEO of the credit union since 1979. He is a native of Chapel Hill, N.C. and a graduate of UNC-CH and Duke University.
Jolly recognized Blaine’s “extraordinary leadership through a period of unparalleled growth in the organization.”
During his tenure SECU grew from $300 million in assets to $33 billion in assets and from eight branches to 256. With over two million members and 5,800 employees in North Carolina, SECU is the second largest credit union in the United States.
SECU serves North Carolina state and public school employees and their families. The Credit Union was founded in 1937 and now has local branches in all 100 North Carolina counties.