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Tom DeWitt set to retire as State Farm Federal Credit Union President & CEO

BLOOMINGTON, ILL (June 28, 2022) — State Farm Federal Credit Union (SFFCU) CEO & President Tom DeWitt has announced his plans to retire in August after 31 years with State Farm®. Current SFFCU Chief Financial Officer Steve Gorrie will succeed DeWitt effective Aug. 1.

During his tenure, DeWitt has been involved in many changes including two State Farm credit union consolidations, standing up a new member care network and implementing new technologies to better serve the State Farm employees, agents and retirees who make up the membership base. Some of his proudest career moments have come during the recent pandemic as SFFCU as well as the credit union industry quickly adapted to business challenges without losing focus on their member and their needs. He has frequently said the introduction of the SFFCU mobile app and the new online banking platform in March 2020, were “just the right solutions, at just the right time for our members”.

Since the establishment of the current SFFCU structure in 2006, it has grown from $2.6 billion in assets to more than $5.6 billion under DeWitt’s leadership. He has worked in the financial services industry for 48 years including his tenure with SFFCU, and he has been active with Credit Union trade associations for many years. He is currently the Chairman of the Board of the National Association of Federally-Insured Credit Unions (NAFCU). He has served on the NAFCU board since 2014 as the Western Region Director and has held several positions including Secretary, Treasurer, Vice Chairman. DeWitt also served on the Illinois Credit Union League Board of Directors from 2007 to 2011.

“Tom’s servant leadership and his focus on supporting the SFFCU mission to improve the financial wellbeing of our members is his true legacy,” says SFFCU Board of Directors Chairperson Holly Roberts. “He sees members and staff as his extended family, and anyone who knows Tom knows his commitment to family. Not only is SFFCU in a strong and secure financial position, but the positive work environment he has helped create resonates with both SFFCU staff and members alike.”

Gorrie has been with SFFCU for 13 years and 30 years with State Farm. He has held leadership positions both within the State Farm organization and SFFCU. During his time with SFFCU, he has been the Chief Operations Officer and, his most current role as Chief Financial Officer since 2011, and he has played a critical role in SFFCU’s growth and stability.

A lifelong learner, Gorrie has earned his CPCU, CLU, ChFC, and CPA designations and his green belt in Six Sigma/Lean. He has received CUNAs CUCE, NAFCUs NCCO and NCRM, and CUES CCE certifications.

He also currently serves on the Illinois Credit Union League Service Corporation Board of Directors and the NAFCU CFO Network Steering Committee. Gorrie also serves his local community through volunteering with Special Olympics of Illinois and Midwest Food Bank.

“Steve is a seasoned leader and a familiar face to our members and staff. He brings a wealth of financial and industry experience and an in-depth understanding of the SFFCU mission, vision and values that will help lead us well into the future,” says Roberts.

SFFCU’s 136 employees operate one branch located in State Farm’s Home Office and serve approximately 121,000 members in all 50 states. Membership is open to all U.S. State Farm employees, agents, retirees, and certain members of their immediate families. SFFCU is known for its competitive rates for both its savings and loan products. For more information, visit www.StateFarmFCU.com.

Federally Insured by the NCUA