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IAA Credit Union announces T. Sean Wells’ retirement and search for next CEO

BLOOMINGTON, IL (July 30, 2024) — IAA Credit Union (IAACU) announces the retirement of T. Sean Wells, CEO, effective January 3, 2025. An employee of the Illinois Farm Bureau Family of Companies for over 36 years, Sean started his career as a Farm Underwriter with COUNTRY Financial in 1988. He went on to serve in various Underwriting, Marketing and Project Management roles before taking the IAACU Chief Executive Officer position in June of 2005.

During his career with IAACU, he directed the Credit Union’s strategy, growth, and financial strength through continued expansion within the credit union’s field of membership (FOM). IAACU’s FOM includes Employees of Illinois Farm Bureau and affiliated companies; all members of the Illinois Farm Bureau; COUNTRY Financial clients and financial representatives; and GROWMARK Inc. patrons.

IAACU products and services are open to members Nationwide through their Corporate office in Bloomington, IL. In order to bring value and convenience to members across the Country, IAACU’s focus under Sean’s leadership has been on member service and member account access through services like IAACU’s online and mobile banking, and online account opening and loan application. His goal has been to be large enough to provide economies of scale supporting the most relevant and valuable offerings, while being small enough to have personal relationships and provide individual care for the entire membership.

During Sean’s tenure with IAACU, the institution expanded assets from a little over $100 million in 2005 to nearly $400 million today. Also, the focus has been on increasing membership, with a net increase of nearly 4,000 members joining the Credit Union since 2005. With total assets managed approaching $400 million, IAACU serves 17,500 members throughout the United States with concentration in Illinois.

Sean completed coursework and was awarded the designations of CPCU, CLU and ChFC while working in the insurance industry. Professional involvement included serving on the Credit Union Executive Society (CUES) Board, several committees on the Bloomington Chapter of Chartered Property Casualty Underwriters (CPCU) and roles with the local Society of Financial Service Professionals

Sean is a 1986 graduate of Illinois State University where he received a Bachelor of Science Degree in Agribusiness with a minor in Economics. He served a combined 20 years in the United States Air Force and Air National Guard as an Aircraft Maintenance Officer retiring in 2002 at the rank of Major.

Sean and his wife Kim have five children and live northeast of Eureka, Illinois in Woodford County. Upon this announcement of Wells’ retirement, IAACU’s Board of Directors has begun a search for his replacement.