R.I.A. Federal Credit Union announces new President/Chief Executive Officer

BETTENDORF, IA (March 28, 2018) — R.I.A. Federal Credit Union is pleased to announce the selection of Jim Watts as the credit union’s new President and Chief Executive Officer.

“The Board of Directors is very excited to welcome Jim as our new President and CEO,” said Alfred Olson Jr., Chairman of the Board of Directors. “Jim brings with him 30 years of experience and we are confident that the future of the credit union and the needs of our members are in good hands with Jim.” Mr. Olson also commended current CEO, Larry Coverstone, for his service to R.I.A. Federal Credit Union, “On behalf of the Board, I want to thank Larry for his outstanding service to the credit union and wish him a happy and healthy retirement.”

Mr. Watts has over 30 years of experience in the financial services industry.  He comes to R.I.A. Federal Credit Union from Central Bancshares, Inc. where he served as Senior Vice President and Chief Operations Officer for two years.  Prior to his time at Central Bancshares, Inc., Mr. Watts worked for West Texas National Bank as Chief Operating Officer.  Prior to that, he held a senior position at Royal Credit Union, and a few other financial institutions.  Mr. Watts has a Bachelor of Science degree in Business Management from Elmhurst College in Elmhurst, Illinois and holds two certificates from the CUES CEO Institute, from Wharton School of Executive Education, and Cornell University Johnson School of Business.

When asked about his new position, Mr. Watts stated, “I am happy to have been offered such a fantastic opportunity at R.I.A. Federal Credit Union and I am very much looking forward to joining the organization.”

About R.I.A. Federal Credit Union

R.I.A. Federal Credit Union, founded in September of 1935, serves over 42,000 military, federal employees, and community members residing in parts of Illinois, Iowa, and Wisconsin. With nearly $400 million in assets, R.I.A. is a progressive, member-owned cooperative whose purpose is to satisfy the financial need of its members by providing high quality products and services. R.I.A. prides itself on furnishing members with exceptional financial services such as a $500,000 savings protection plan, the highest federal / private share savings insurance available. Additionally, R.I.A. regularly offers incentives and reward programs for members to participate in. Community involvement is paramount at R.I.A., demonstrated by their 80+ years of service. During this time, R.I.A. has raised money, donated time, and sponsored various events for Veterans Honor Flights to Washington, DC, local food banks, the American Heart Association, the Children’s Miracle Network, and many local institutions.


R.I.A. Federal Credit Union
4343 Utica Ridge Road
Bettendorf, IA 52722
Phone (563) 355-3800

More News